Spanish green hydrogen developer HyFive has been awarded €28.7m ($30.9m) in EU funding for three projects in Spain and Germany.
Secured during 2023, the subsidies will be used for two green hydrogen production projects in Spain and one mobility-related hydrogen plant in Germany, representing 75MW of operation capacity.
Awarded through the NextGenerationEU programme, the largest project to receive the funding is a 50MW green hydrogen plant that will feed into a 100,000 tonne e-methanol plant in the north of Spain – which could have its capacity doubled in a second phase.
The other Spanish project is a 20MW plant that hopes to displace grey hydrogen consumption at a petrochemical complex in the country’s south.
In Germany, the funding will support a 5MW integrated electrolyser and distribution facility to serve mobility in Lindenberg im Allgäu.
Together, the three projects make up around 40% of the 190MW HyFive expects to be operating by the end of 2026.
As the company looks to achieve its goals, Alberto Sánchez de Rojas, CEO of HyFive, said it was “urgent” for member states to embed EU-level green hydrogen rules in national laws and regulations to accelerate the adoption of green hydrogen and e-fuels.
“Only then will we be able to maximise the potential of renewable energy production,” the CEO said.
Launched in 2021 by White Summit Capital, the company plans to develop 1.5GW of green hydrogen production capacity by 2035 across Europe.
Pablo Pallás, Managing Partner at White Summit Capital, said it was “keen to support” its subsidiary in making the projects a reality.
Don’t just stay at the forefront of the latest news and views in the hydrogen economy, position yourself at the forefront with H2 View. Reach the right target audience for your company through our range of promotional platforms.
Whether online, in print, or as part of our newsletters, H2 View has a range of advertising options to meet your objectives. Download H2 View’s 2024 media guide today!