Germany to invests $9.74 billion in large hydrogen projects

On Friday, in a statement, Germany’s Economy and Transport ministries stated, Berlin will invest more than $9.74 billion (8 billion euros) in large scale hydrogen projects, in an effort to scale up hydrogen as an alternative to polluting fossil fuels and to meet climate targets.

In a statement both ministries said, 62 German projects, supporting chemical, transport, and the steel industries, will be part of Hydrogen-IPCEI, a joint European hydrogen project.

“The fact is: we must and WANT to urgently promote the switch to climate-friendly mobility,” said German Transport Minister Andreas Scheuer in a statement.

Berlin is ramping up efforts to shift to clean energy following a landmark ruling from the country’s top court last month which pushed for more ambitious CO2 reduction targets.

Incidentally, green hydrogen is a zero-carbon fuel made by electrolysis, using renewable power from wind and solar to split water into hydrogen and oxygen.

($1 = 0.8210 euros)



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