EU gives green light to €1bn Dutch green hydrogen subsidy scheme
Source: www.gulfoilandgas.com 8/1/2024, Location: Europe
The European Commission has given state-aid approval for a €998m subsidy auction scheme put forward by the Dutch government, which seeks to support at least 200MW of new green hydrogen production capacity.
The Dutch government will provide grants worth up to 80% of the upfront investment cost of projects, as well as “a variable premium over a period of 5 to 10 years” in the hope of lowering the cost of producing renewable H2 to a price that offtakers are willing to pay.
These developments showcase that governments around the world are backing hydrogen as the fuel of the future.