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Portugal Receives 16 Billion-Euro Investment Proposals for Hydrogen Energy

By July 19, 2020 < 1   min read  (153 words)

July 19, 2020 |

LISBON— The Portuguese Ministry of Environment and Climate Action announced on Sunday that it had received investment proposals for industrial production of hydrogen-based energy totaling 16 billion euros (18.3 billion U.S. dollars).

Minister Joao Pedro Matos Fernandes’ office said in a statement that “74 expressions of interest related to investment projects in the hydrogen industrial sector were received in the market consultation process ended on Friday.”

According to the ministry, the projects covered “different strategic areas, starting with the production of green hydrogen for use in transport.”

The projects revealed “the mobilization capacity of the Portuguese industry and the recognition of the opportunity for the development of the hydrogen economy, in a national and European context,” stated the ministry.

The government launched the market consultation with the aim of “strengthening the Portuguese candidacy to the Important Project of Common European Interest (IPCEI),” a European Commission initiative encouraging “disruptive and ambitious research and innovation.”

Source: Xinhua

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