Spain drops permanent windfall tax on energy firms, reviving green hydrogen plans
A proposal to make a Spanish windfall tax on energy firms permanent, which had seen oil and gas majors threaten to halt green hydrogen developments, has been dropped.
A proposal to make a Spanish windfall tax on energy firms permanent, which had seen oil and gas majors threaten to halt green hydrogen developments, has been dropped.
H2 View understands the confirmation was a notification that this Labour Government will press ahead with the funding, with official contracts for the funding still yet to be signed with shortlisted projects.
The US Government will allocate up to $3bn to fund the development of hydrogen and battery-powered infrastructure and technologies at ports.
Germany and India have agreed to encourage private-sector investment and promote green hydrogen trade and export under a new five-year strategy.
Germany will need to build over 9GW of clean hydrogen production capacity in little over five years to meet its 2030 targets, the Hydrogen Technology Expo Europe in Hamburg has heard.
With 85 Net Zero projects selected in total, the package is supporting six clean hydrogen production projects and eight electrolyser manufacturing firms.
Collaboration between policymakers and industry developers is essential for building a global hydrogen trade, but funding alone won’t be enough to achieve it, attendees at the Hydrogen Technology Expo in Hamburg, Germany, have heard.
“Without cohesive coordination, efforts to integrate hydrogen into the wider transport sector, including the aviation sector, remain fragmented and less effective,” the report said.
Offering an opportunity for stakeholders to declare their commitments to working towards the scale-up of clean hydrogen, the declaration does not come as part of COP’s official negotiations.
The German government has allocated €2.8bn ($3bn) in funding to accelerate decarbonisation efforts, with up to five hydrogen-based projects expected to receive a share of the support.
