Portugal approved Green Hydrogen projects amounting to EUR 102 M from PRR funds

Portugal approved Green Hydrogen projects amounting to EUR 102 M from PRR funds - Portugal Business News

Portugal approved Green Hydrogen projects amounting to EUR 102 million from the funds of the Recovery and Resilience Plan (PRR) and 25 projects have already been signed. These projects, that will lead to a reduction of 167,000 tons of carbon dioxide emissions, are mostly not located on the coast or in large urban centers, but are rather in industrial parks and in the interior.

Prime Minister, António Costa, stated that Green Hydrogen production will not only be enough for the country’s energy consumption, but will also be exported. He added that Green Hydrogen production meant a structural shift for the Portuguese economy and that there was a market for exporting Green Hydrogen produced on the Iberian Peninsula to the EU, since Germany is also joining the Green Hydrogen Corridor linking Portugal, Spain and France.

The Portuguese private sector is committed towards the energy transition with projects that are in line with public policies, with the use of public as well as private funds that are being mobilized in order to transform the economy in such a critical sector as energy.

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