Spain will spend 1.5 billion euros ($1.8 billion) from a European Union recovery fund to develop green hydrogen production over the next three years, Prime Minister Pedro Sanchez said Monday.<\/p>\n
Spain will spend 1.5 billion euros ($1.8 billion) from a European Union recovery fund to develop green hydrogen production over the next three years, Prime Minister Pedro Sanchez said Monday.<\/p>\n
The goal is for Spain to become Europe\u2019s leading hydrogen producer using renewable sources instead of fossil fuels to curb greenhouse gas emissions and create jobs, he said.<\/p>\n
\u201cThe Spanish government is firmly committed to green hydrogen,\u201d the Socialist premier said at a ceremony in Toledo, just south of Madrid.<\/p>\n
His government expects the outlay will stimulate 8.9 billion euros of mainly private-sector investment to develop the technology by 2030.<\/p>\n
Madrid has already received over 500 \u201cgreen hydrogen\u201d project proposals from energy firms, a government statement said.<\/p>\n
Creating \u201cgreen\u201d or emissions-free hydrogen is seen as a key step towards developing sustainable energy sources and slashing carbon emissions.<\/p>\n
One reason for the strong interest in hydrogen technology is when used to fuel motors, the only emission is water vapour.<\/p>\n
But it is expensive to produce and the electricity needed generates a lot of carbon dioxide emissions or other pollutants.<\/p>\n
Green hydrogen is produced via electrolysis \u2014 an electrical current passing through water \u2014 with wind, solar or hydro-electric power providing the electricity.<\/p>\n
Europe in particular is anxious to get a handle on the new and still costly fuel, having missed the boat on solar and battery technology, which is dominated by China.<\/p>\n
Experts predict green hydrogen using renewable energy will soon plunge in cost and become cheaper than natural gas in many areas.<\/p>\n
US engine maker Cummins announced Monday it would spend 50 million euros to build one of the world\u2019s biggest electrolyser plants for the production of green hydrogen in Spain.<\/p>\n
The plant, which will be built in the central region of Castilla-La Mancha, is expected to open in 2023.<\/p>\n
\u201cSpain offers a strong and dynamic local environment for hydrogen production, and we are excited to invest,\u201d said Cummins chairman Tom Linebarger.<\/p>\n
Spain is set to receive 140 billion euros \u2014 half in direct payments, half in loans \u2014 from the 750 billion-euro recovery plan adopted by EU leaders last year as the economy reeled under virus lockdown restrictions. (AFP)<\/p>\n","protected":false},"excerpt":{"rendered":"
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