Italian energy majors win EU funding for green hydrogen projects
Two projects by Italian multinational corporations Enel Green Power and Eni for the development of green hydrogen through electrolyzers fueled by renewable energy will receive public funding approved under European Union’s (EU) IPCEI Hy2Use.
The IPCEI Hy2Use is a project of common European interest aimed at supporting research and innovation and the construction of related infrastructure to enable the first industrial applications of hydrogen.
The project was jointly prepared and notified by 13 EU Member States. Under the project, the EU plans to allocate up to €5.2 billion to support research and innovation, the first industrial application, and the construction of related infrastructure in the hydrogen value chain.
South Italy Green Hydrogen, the joint venture set up by the two corporations to move forward with the development of the projects, will be the beneficiary of the funding provided.
“We are proud that these projects have been shortlisted by the European Union as part of the prestigious IPCEI Hy2Use,” said Salvatore Bernabei, CEO of Enel Green Power.
“The two initiatives, in collaboration with Eni, represent an important step for the construction of utility-scale electrolysis facilities, allowing us to test and accelerate the development of the entire supply chain for the production of green hydrogen in Europe.”
“In order to tackle the challenges of energy transition as effectively as possible in such diverse and complex economies and industries, it is essential to use all available technologies to decarbonize the many different emissions sources,” said Giuseppe Ricci, Chief Operating Officer of Energy Evolution at Eni.
“Hydrogen is one of the many paths that Eni is taking, and we are very pleased that these projects with Enel were shortlisted by the European Union as part of IPCEI Hy2Use, which is such an important EU project.”
The companies also noted that the implementation of these projects may be covered by future agreements, which will be finalized in compliance with applicable regulations, including those on transactions between related parties.
As for the green hydrogen segment, Enel Group is also working on several other projects in Spain, Chile, and the USA.
Meanwhile, in June 2022, Eni opened a hydrogen station in Mestre, in the Veneto region. It is also considering other initiatives in Italy and abroad for decarbonizing hard-to-abate industries and heavy transport. The aim is to produce 4 MTPA of low-carbon, renewable hydrogen by 2050.