EDP selected for European list of strategic projects in hydrogen
Three EDP projects in Aboño (Asturias), Los Barrios (Cádiz) and IAM Caecius (Teruel) will receive public funding as they are considered strategic projects by European Comission.
Three EDP projects have been declared Important Projects of Common European Interest (IPCEI Hy2Use) to receive funding, as they are considered strategic for the energy transition. EDP was the company with the most projects selected: Aboño (Asturias), Los Barrios (Cádiz) and IAM Caecius (Teruel), whose objective is to promote the deployment of green hydrogen. In total, 225 MW of electrolysers to generate and supply green hydrogen.
This designation reflects EDP's ambition to lead the energy transition, through a realistic project to transform its thermal power plants into sites linked to renewable energies, green hydrogen, energy storage and the flexibility of the electricity system.
Specifically, the company's plans for Aboño include converting the current thermal power station into the Asturian valley of green hydrogen, with 100 MW of electrolysers, which can be scaled up at a later date. With regard to the Los Barrios thermal plant, EDP is planning another 100 MW of electrolysers. Both initiatives will enable green energy to be supplied to large industry in Asturias and to industry located in the Campo de Gibraltar, respectively.
The company is also working on the IAM Caecius project, in Teruel, with 25 MW of electrolysers, which is part of the projects for innovative uses of green hydrogen, in conjunction with the Térvalis Group.
EDP CEO, Miguel Stilwell de Andrade, pointed out that “renewable hydrogen can be an accelerator of Europe's energy independence and sustainability. We must be bold and agile in this response and the financial support now approved is a decisive incentive for this innovative technology to make the leap on a larger scale. It is also a very positive signal from the European Commission in its commitment to innovation and decarbonization. EDP is one of the 29 selected companies, with three energy transition projects involving a strong investment in green hydrogen, continuing to make an important contribution to Europe fulfilling its ambition of being the first climate-neutral continent by 2050.”
A total of 29 companies with activities in one or more Member States are participating in the IPCEI, which will develop 35 projects, including the company's three.
In selecting the 35 projects to receive public funding, the Commission has found that they contribute to a common objective by supporting a key strategic value chain for Europe's future. The 35 specific projects are "very ambitious", as they aim to develop technologies and infrastructures that go beyond what the market currently offers.
The EU executive has taken into account that the plan entails significant technological and financial risks for the companies, so public support is necessary in order to provide incentives for companies to undertake such investment.
