Germany is set to invest billions in groundbreaking hydrogen projects, with the aim of boosting the production, storage and transport of a potentially groundbreaking source of green energy.
“By financing hydrogen projects, we are taking an important step towards a climate-neutral and sustainable economy in Europe and beyond,” said Economics Minister Robert Habeck in Berlin, according to a statement from the ministry.
The German federal government – and a number of state governments – have set aside a total of €4.6 billion ($4.9 billion) for 23 projects.
Habeck said a strong hydrogen infrastructure could play a key role in decarbonizing German industry and energy sectors.
“Hydrogen pipelines are becoming the lifelines of industrial centres. This creates the prerequisite for climate-neutral growth,” Habeck said.
The projects focus on large-scale production of green hydrogen, but also on innovative and safe storage solutions and transport infrastructure of up to 2,000 kilometers.
Part of the funding comes from the European Union, while the companies involved in the projects are investing another 3.3 billion euros.
According to the ministry, the total investment in 2030 will amount to €7.9 billion.
