- Press Releases
October 6 (Renewables Now) - The German government will provide a total of EUR 350 million (USD 406.07m) by the end of 2024 to finance projects for the production, transport, storage and use of green hydrogen in countries outside the European Union as part of the National Hydrogen Strategy.
The purpose of the financing, to be extended in the form of grants, is to advance the use of German technologies abroad, take part in the building of a global market for green hydrogen and lay the foundations for structures for the import of green hydrogen, the Federal Ministry for Economics Affairs and Energy said on Tuesday.
Companies can apply for non-repayable grants of up to EUR 15 million, while projects of scientific and research institutes will be funded with up to EUR 5 million. Joint projects implemented by companies and research institutes are also within the scope of the funding programme.
Germany is an energy importer and needs to quickly build supply chains for green hydrogen abroad, said education and research minister Anja Karliczek. International cooperation in research and innovation in the area of green hydrogen technology is a main pillar of the National Hydrogen Strategy, Karliczek added.
Along with a strong domestic market, Germany relies on pilot projects in partner countries for the ramp-up of the green hydrogen market as production in these countries can be efficient and cost-effective, said economy minister Peter Altmaier.
Earlier this year, Germany pledged to provide more than EUR 8 billion to back 62 large-scale hydrogen projects that cover the entire value chain of the hydrogen market -- from production and transport to industrial applications. About EUR 2 billion of the total amount will be granted to projects in the steel industry.
(EUR 1 = USD 1.160)