Portugal's hydrogen call brings in EUR16 billion of suggested financial investments

Jul 24, 2020 02:10 PM ET
  • The suggested projects come from Portuguese and also European companies covering the whole worth chain. The call, which has a budget of up to EUR40 billion, is part of the country's hydrogen method.
Portugal's hydrogen call brings in EUR16 billion of suggested financial investments
Image: John Lloyd, flickr

The Portuguese government said this week that it has actually gotten 74 expressions of passion in feedback to its ask for hydrogen projects, which was released in mid-June.

"The recommended investments amount to roughly EUR16 billion, which amounts 7.5% of Portuguese GDP," the federal government said.

Portuguese developers and also various other European firms across the whole value chain proposed projects, with participation from the general public and also private sectors. "The projects additionally cover various critical areas, from the production of green hydrogen to transport," the government discussed, without disclosing any kind of extra information regarding the projects or the programmers.

The federal government will now determine whether the propositions are in line with the call's demands. It will certainly give an additional upgrade on July 27.

It dedicated a budget of EUR40 billion to the call, which becomes part of the Portugal's nationwide hydrogen technique (Estratégia Nacional para o Hidrogénio), lately announced by João Galamba, state assistant for energy. He stated in very early July that the location surrounding the town of Sines, Setúbal district, had actually been chosen for a cluster of projects aimed at producing, keeping and delivering green hydrogen on an industrial range.

"The climate crisis is additionally an industrial and also technological possibility for the European Union as well as the participant states, and also clean hydrogen reveals it perfectly," claimed Galamba, of the European Clean Hydrogen Alliance, which is developed to produce a worth chain based totally on hydrogen.

National energy EDP is currently establishing a pilot hydrogen production project with storage space at the Ribatejo Combined Cycle Plant, with assistance from the European Union. The project will rely upon a 1 MW electrolyzer, with a storage capacity of 12 MWh.

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