This aid is part of the Decarbonization PERTE, within the Recovery, Transformation and Resilience Plan.
The Council of Ministers today approved the Royal Decree regulating the direct concession of 450 million euros for the execution of Arcelor’s circular hydrogen project in Asturias. This aid is part of the Decarbonization PERTE, within the Recovery, Transformation and Resilience Plan.
This project will allow the company to produce ‘green steel’ by using hydrogen produced with renewable energy. ArcelorMittal will not only contribute to the decarbonisation of its activity, but will also help accelerate the decarbonisation of auxiliary industries and other sectors of activity.
This subsidy is unique insofar as the adoption of the use of hydrogen from renewable sources on an industrial scale is non-existent, without precedents in Spain, and there is only one candidate company to do so on a large scale. This makes it impossible to call through competitive bidding.
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Arcelor’s plan includes measures to improve its competitiveness through new investments, such as the new electric furnace at the Gijón plant, a direct iron ore reduction (DRI) plant with green hydrogen at the same facility and the possibility of a new electric oven in Avilés. In addition, the company participates in the HyDeal project that will make it possible to turn the Cantabrian Coast into the most important green hydrogen hub in the world.
