Portugal trims hydrogen project field as multi-billion-euro campaign changes gear
- Portugal has actually selected a total of 37 potential green hydrogen projects, representing a total investment of around EUR9 billion (US$ 10.5 billion) to progress to the following phase of its selection procedure.
Last week the Portuguese government exposed that it had gotten 74 expressions of passion from parties eager to use an action by Portugal's Ministry of Environment as well as Climate Action to advance green hydrogen projects capable of decarbonising hefty industry in the nation.
A Project Admission Committee was put together to examine the propositions, as well as the committee has whittled down the number of projects appropriate by half to 37, a note issued by the environment ministry the other day exposed. A more thorough assessment is now underway, with even more in-depth project info requested from successful parties.
The first examination was released in alignment with the Important Project of Common European Interest (IPCEI), an initiative of the European Commission which motivates advancement as well as disruption of conventional business models and also comes hot on the heels of the Commission's very own green hydrogen technique which was revealed on 8 July 2020.
Portugal has emerged as a beacon of opportunity in a renewables sector seeing a renaissance across Europe. Its 2019 solar tender was oversubscribed with record low quotes from Akuo and Iberdrola winning a share in the 1.15 GW solar pot and also a 2020 public auction of 700 MW of solar targeting the southerly areas of Alentejo as well as Algarve will certainly be finished at the end of July 2020. Champions will be revealed in September. Talking To PV Tech at the time, a speaker for the government indicated this public auction will be adhered to by one more exercise of 500MW (the figure is a measure) in the direction of completion of the year.
The news also comes around a month prior to the Green Hydrogen Virtual Summit, arranged by PV Tech author Solar Media, at which Portugal's energy assistant João Galamba will certainly speak. Galamba is to lay out the possibility for financial investment in Portugal as well as will be joined by other major Portuguese stakeholders as well as investors right into the Portuguese renewables market such as Galp, Smartenergy, Resilient Ventures and also APREN, the organization for the Portuguese eco-friendly market.
Green hydrogen is fast getting grip in Southern Europe with programmers of solar projects eyeing up the technology's capability to offer an added earnings stream and also cushion the strike for any prospective drop in revenue as a result of reduced power prices and also reductions in government reward plans. In a similar way, north Europe is seeing wind programmers look in the direction of hydrogen.
Marc Rechter of Resilient Group, talking at the Green Hydrogen Virtual Summit, highlighted the role that green hydrogen could play in decarbonising hefty industry as well as transport. Resilient Group is concentrated on establishing and breeding financial investments in renewable energy, green hydrogen, smart grids as well as other innovations, and also it is behind the 1GW solar+hydrogen Green Flamingo initiative recommended in the port of Sines. The initiative has drawn in passion from the Dutch government, EDP (Energias de Portugal) and also oil group Galp Energia.
Of green hydrogen, Rechter claimed it is "presently determined as the only power provider efficient in allowing the prompt decarbonisation of hefty industry, trucking, maritime navigation and also aviation. The maturation of electrolysis innovation is currently a truth and will now be a possibility to contribute to the reindustrialization of some European countries".
"Green hydrogen depends upon the renewable energy sector for its power input. Increasingly, the turn out of green hydrogen systems will certainly enable renewable resource assets to keep financial feasibility in an electrical market with a high propensity for curtailment," Rechter added.