Germany to invest $10 Billion in hydrogen projects

Germany to invest $10 Billion in hydrogen projects.

The 62 German projects, supporting chemical, steel and transport industries, are part of a joint European hydrogen project called Hydrogen-IPCEI, the ministries added.

“The fact is: we must and WANT to urgently promote the switch to climate-friendly mobility,” said Transport Minister Andreas Scheuer in a statement.

The projects were picked from a list of over 230 investment proposals, as part of the EU’s Important Projects of Common European Interest initiative. They include over 2 GW of electrolyser projects, representing 40% of Germany’s goal for electrolyser capacity by 2030, as well as 1,700 km of hydrogen pipelines, various projects to decarbonise the CO₂ intensive steel industry and the development of hydrogen fuel cell systems and vehicles, as well as hydrogen refuelling infrastructure.

Germany is trying to accelerate its shift to clean energy after a landmark ruling last month from the country’s top court pushing for more ambitious CO2 reduction targets.

Green hydrogen is a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen.

“We want to become the number one in the world in hydrogen technologies,” German federal economics minister Peter Altmaier said in a statement, noting that the projects covered the entire hydrogen value chain. “We are thus taking a big step on the way to making our economy climate neutral,” he said, adding: “a central area of this is the steel industry as well as the chemical industry.”

“Green hydrogen and fuel cells are, across all modes of transport, a great addition to pure battery vehicles,” federal transport minister Andreas Scheuer added.

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Germany to invest around $10 bln in hydrogen projects, 28, May 2021