Germany is set to invest billions in pioneering hydrogen projects, aiming to boost the production, storage and transport of a potentially transformative source of green energy.
Robert Habeck, the Economy Minister, stated in a ministry statement: “With the funding of hydrogen projects, we are taking a step towards a climate-neutral and sustainable economy in Europe and beyond.”
The German federal government as well as several state governments has earmarked a total of €4.6 billion ($4.9 billion) for 23 projects.
Habeck said a powerful hydrogen infrastructure could play a key role in the decarbonization of German industries and the energy sector.
He added that the “Hydrogen pipelines will be the lifelines of industrial centre and this creates the precondition for climate-neutral growth”.
The projects are centered on the large-scale production of green hydrogen, but also innovative and secure storage solutions as well as transport infrastructure spanning up to 2,000 kilometres.
Part of the funding comes from the European Union; while businesses involved in the projects are due to invest another €3.3 billion ($3.6 billion).
According to the ministry, the total investment will thus represent €7.9 billion ($8.1 billion) by 2030.
