Spain invests heavily in green hydrogen for decarbonization

[Caribbeans]

Spain invests heavily in green hydrogen for decarbonization

energynews | 20 September 2024

Spain is implementing an ambitious €1.2 billion public funding plan to support the development of green hydrogen.
The plan is part of a wider strategy to decarbonize the industrial and energy sectors.

This investment is aimed at boosting hydrogen production capacity from renewable sources, in line with the European objective of carbon neutrality by 2050. At the same time, Spain aims to achieve 11 GW of electrolysis capacity by 2030, the highest figure in the European Union. Funds will be allocated primarily to infrastructure such as large-scale electrolysers and hydrogen hubs in several key regions.

The priority is to develop an integrated network linking hydrogen production, storage and distribution.
In addition to this infrastructure, part of the grants will be used to support the hydrogen technology supply chain in Spain, including small and medium-sized enterprises (SMEs)...

A long-term strategy for enhanced competitiveness

Spain’s hydrogen strategy is not limited to one-off investments. The country is implementing measures to sustain its leadership in this field. The Ministry of Ecological Transition has imposed rigorous criteria for the allocation of subsidies, requiring long-term commitments from companies wishing to benefit from public funds....more
https://energynews.pro/en/spain-invests-heavily-in-green-hydrogen-for-decarbonization/

In Spain (And China), the focus is on the Long Term.

In the US, "Long Term" is 2 quarters from now. That's why Green H2 will work in some places and not others.

[calimary]

1. MOST interesting!

I like the focus being longterm, too.