- Hamburg senate is set to co-finance the development of 8 green hydrogen projects.
- The projects will enhance the decarbonisation of the energy and transport industry.
The city of Hamburg has announced that it will provide EUR 223 million (USD 223.15m) to co-finance the development of eight green hydrogen projects with an IPCEI status. The projects are aimed at advancing the decarbonisation of the energy and transport industry.
The financing was approved by Hamburg’s Senate last week.
The selected projects will help the port city build a green hydrogen economy with a focus on supporting the transition of industrial companies in the region, changes in goods handling and transport for the maritime sector, and the transformation of the road, rail, water and air transport and the upgrade of the existing energy infrastructure towards a climate-neutral economy.
The German government has picked 62 major green hydrogen projects across the country to receive federal and state funding. Eight of all IPCEI-designated initiatives come from Hamburg. As much as 70 per cent of the state funding for these projects will come from the federal budget, and the federal states will provide 30 per cent.