The Spanish government has allocated €274.2 million for four renewable hydrogen projects with a combined electrolysis capacity of 102.27 MW, while the European Commission has approved a €780 million Dutch scheme to support renewable hydrogen production.
Spain‘s government has allocated €274.2 million ($316 million) through the Auctions-as-a-Service (AaaS) mechanism to support renewable hydrogen production at four projects in Castilla-La Mancha (two), Galicia and Aragón. The projects have a combined electrolysis capacity of 102.27 MW. “The projects had been selected in the European Hydrogen Bank’s third general auction (IF25), but were excluded from Brussels’ funding because they exceeded the allocated EU budget. To salvage these projects, the Institute for Energy Diversification and Saving (IDAE), an agency under Miteco, launched the second national call for Auctions as a Service (AaaS) last May, with a maximum budget of €440.5 million funded by NextGenerationEU grants under the Recovery, Transformation and Resilience Plan (PRTR),” said Spain’s Ministry for the Ecological Transition and the Demographic Challenge (Miteco).
Hydnum Steel has secured a €150 million ($172.9 million) investment commitment from the Co-investment Fund (Foco), managed by the public asset management company Cofides. “The transaction is part of a financial plan that will mobilise an overall investment of more than €1.5 billion. Of this figure, approximately €600 million corresponds to equity, whilst around €1 billion will be debt,” said the company, which is developing what it describes as the first green steel plant on the Iberian Peninsula. It added that it plans to begin earthworks and construction by the end of 2026. “The project has garnered significant interest from potential clients, having reached agreements that cover 100% of the production capacity demand for the first phase during its initial five years of operation.”
