Spain is set to approve its first four green hydrogen projects today as it ramps up its hydrogen strategy.
Prime Minister Pedro Sanchez said on Monday his cabinet will approve a new decree today to regulate the first four of 11 green hydrogen projects, and will approve a €74m ($79.12m) initial subsidy, according to reports.
The market competition for renewable hydrogen production has become increasingly fierce. Spain strives to become a ‘green hydrogen bank’ in Europe and targeting the completion of 4GW of green hydrogen by 2030.
Its favourable natural gas storage and transportation system, coupled with plenty of sunshine and windy hillsides, gives Spain advantages in green hydrogen production. By 2050, Spain is expected to export green hydrogen to many international markets.
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