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Germany grants EUR 3.53bn for hydrogen ramp-up
Full Article: https://renewablesnow.com/news/germany-grants-eur-353bn-for-hydrogen-ramp-up-under-h2global-848538/
Germany's federal economy ministry has provided EUR 3.53 billion (USD 3.81bn) in grants to support the ramp-up of the hydrogen economy under the H2Global mechanism.
-snip-
In the initial phase, Germany earmarked EUR 900 million to stimulate hydrogen market development and back investments in the production of green hydrogen in countries outside the EU that will be then imported into the union.
With the addition of the latest funding and investments from the joint Germany-Netherlands initiative, the total public capital committed to the H2Global mechanism now stands at EUR 4.73 billion.
"As the first round of tenders is nearing its completion, we are happy to see the continued trust in the effectiveness and efficiency of the H2Global mechanism. We look forward to delivering first results and to scaling up our efforts towards creating a global market for hydrogen", the H2Global Foundation said.
-snip-
In the initial phase, Germany earmarked EUR 900 million to stimulate hydrogen market development and back investments in the production of green hydrogen in countries outside the EU that will be then imported into the union.
With the addition of the latest funding and investments from the joint Germany-Netherlands initiative, the total public capital committed to the H2Global mechanism now stands at EUR 4.73 billion.
"As the first round of tenders is nearing its completion, we are happy to see the continued trust in the effectiveness and efficiency of the H2Global mechanism. We look forward to delivering first results and to scaling up our efforts towards creating a global market for hydrogen", the H2Global Foundation said.