29.05.2024
Source: Energy & Management Powernews
The EU Commission has approved aid for another hydrogen project in the European interest (IPCEI).
Seven EU states are involved in the project with the poetic name "IPCEI Hy2Move": Germany, Estonia, France, Italy, the Netherlands, Slovakia and Spain. It is intended to support research, development and the establishment of a European hydrogen supply chain with subsidies of 1.4 billion euros. The money will be provided by the aforementioned member states and is expected to trigger private investment of a further 3.3 billion euros.
As the Commission announced in Brussels, this involves 13 individual, innovative projects from eleven companies that account for a large part of the added value in the hydrogen economy: the use of hydrogen in fuel cells in the transport sector, the development of fuel cell technology for power generation to drive ships and locomotives, the use of hydrogen as a storage medium and the supply of liquefied hydrogen to filling stations.
This would complement the first three IPCEIs in this area that have already been designated. In particular, the aim is for member states to be able to support technologies that are ready for use but have not come onto the market due to high risks in order to fill the gap left by market failure. At the same time, it is ensured that everyone benefits from the results of the projects and that distortions of competition are avoided.
The Commission has therefore ensured that "IPCEI Hy2 Move" contributes to the EU's hydrogen strategy and its climate targets, that the technologies developed represent a decisive improvement on the status quo, that the investments would not be made without the aid and that the aid is necessary and appropriate in each individual case and does not distort competition. Extra profits would be reimbursed and lessons learned shared with all member states.
Author: Tom Weingärtner
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