Commission approves €1.2 billion Spanish State aid scheme to support investments in the production of renewable hydrogen to foster the transition to a net-zero economy

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Source: European Commission Spokesperson's Service

The European Commission has approved a €1.2 billion Spanish scheme to support investments in the production of renewable hydrogen to foster the transition to a net-zero economy. The scheme was approved under the State aid Temporary Crisis and Transition Framework (‘TCTF’), adopted by the Commission on 9 March 2023 and amended on 20 November 2023 and on 2 May 2024.

The scheme will be fully funded through the Recovery and Resilience Facility (‘RRF’) following the Commission’s positive assessment of Spain’s Recovery and Resilience Plan and its adoption by the Council.

The scheme will support investments in the production of renewable hydrogen with an installed capacity of at least 100 MW. Investments supported may encompass (i) the production of renewable hydrogen-derived fuels, (ii) renewable hydrogen storage, and (iii) the production of renewable electricity. To be eligible under the measure, applicants should have secured agreements with off-takers to cover at least 60% of the renewable hydrogen or renewable hydrogen-derived fuel expected to be produced. Under the scheme, the aid will take the form of direct grants covering the investment costs of the projects supported. The aid amount for each beneficiary will be determined on the basis of a competitive bidding process.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: This €1.2 billion scheme will enable Spain to accelerate the deployment of renewable hydrogen capacities, in line with the EU Hydrogen Strategy and the European Green Deal. The scheme will also help Spain reduce its dependence on imported fossil fuels, while minimising any potential distortions to competition.

A press release is available online.

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Commission approves €1.2 billion Spanish State aid scheme to support investments in the production of renewable hydrogen to foster the transition to a net-zero economy

Daily News 26 / 07 / 2024

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