The European Commission Friday said it has approved a 246 million euro (USD 271 million) Dutch scheme to support the production of renewable hydrogen.
The scheme will also contribute to the objectives to end dependence on Russian fossil fuels and fast-forward the green transition, it said in a statement.
The scheme will support the construction of at least 60 MW of electrolysis capacity in the Netherlands.
The aid will be awarded through a competitive bidding process planned to be concluded in 2023.
The tender will be open to all companies established in the European Economic Area and operating, or wishing to build and operate, a hydrogen production unit in the Netherlands.
The aid will take the form of a direct grant for a 7-to-15-year period.
The Netherlands expects that the scheme will lead to the equivalent of around 55 kilotons of CO2 being avoided every year until 2030, which will contribute to the Netherlands’ efforts to reduce its greenhouse gas emissions by 55 percent by 2030 and to achieve climate neutrality by 2050, compared to 1990 levels.
Source: Kuwait News Agency