Spain has granted a €150m ($165m) subsidy to support one of Cobra’s green hydrogen projects it is involved in, H2 View understands.
Announced by the Spanish Industry Minister, Jordi Hereu, the subsidiary of French company Vinci is expected to use the funding to boost one of its green hydrogen initiatives.
The project, located in Castellón, is anticipated to focus on the production, storage, transportation and distribution of hydrogen to strengthen the supply chain.
In 2022, the European Commission originally approved a €220m ($243m) grant to support Cobra’s renewable hydrogen production ambitions under EU State aid rules.
Read more:European Commission approves €220m grant to support Cobra’s green hydrogen projects
The green Cobra project was selected by Spain to become an Important Project of Common European Interest (IPCEI) focused on hydrogen technologies and systems.
However, given the project objectives, the EU determined they were better suited for assessment under the Guidelines on State aid for climate, environmental protection and energy 2022.
In July (2024), Cobra won a $80m contract from SMS Group to carry out piping and mechanical works on a green steel production plant in Duisburg, Germany, which is expected to have an annual production capacity of 2.5 million tonnes of direct reduced iron (DRI).
Read more:Cobra IS secures mechanical works for thyssenkrupp’s green steel plant
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