Portugal – Government launches 140 Million EUR hydrogen and biomethane auction.
The Minister for the Environment and Energy, Maria da Graça Carvalho, today announced the launch of an auction for the centralized purchase of hydrogen and biomethane, worth 140 million euros.
The official said this at the Lisbon Energy Summit, which is taking place between today and Wednesday at the Lisbon International Fair in Parque das Nações.
Maria da Graça Carvalho, explaining that it will be financed through the Environmental Fund:
Today we are launching an auction for renewable gases worth 140 million euros.
State aid to investors will take the form of a variable premium under a bilateral contract for difference concluded for a period of ten years.
In December, the European Commission approved state aid of 140 million euros in Portugal to support the production of renewable hydrogen and biomethane, in order to promote the transition to a zero net emissions economy.
According to Brussels, in the tendering process, beneficiaries are selected on the basis of the strike price per megawatt hour of renewable hydrogen or biomethane offered.
The transition portfolio of the government led by former Prime Minister António Costa indicated that the tender documents for this auction had been prepared and the conditions for state aid had been negotiated with the European Commission, with the auction “ready for launch”.
The aim is to “boost the new sector of renewable gases, which has high added value and helps decarbonize the country, and an auction will be launched for the centralized purchase of biomethane and hydrogen”.
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Portugal – Government launches 140 Million EUR hydrogen and biomethane auction. source
