The European Commission has approved a €450 million renewable hydrogen production scheme in Italy. How will this help to support Italy’s transition to a climate-neutral economy?
It is set to support investments in the integrated production of renewable hydrogen and renewable electricity in brownfield industrial areas to drive forward Italy’s Net Zero economy.
Funded under the Recovery and Resilience Facility, the action, is open to companies of any size operating in Italy, excluding credit institutions and other financial initiations. Under the scheme, projects are selected based on an open call for tenders.
Public support will be in the form of direct grants to cover investment costs, with a maximum grant of €20 million per project.
The scheme was approved on the basis of the Temporary Framework on crisis management and transition management, adopted by the Commission on 9 March 2023, to support action in areas key to accelerating the green transition and reducing fuel dependency.