Germany approved a $20.5 billion plan to build a hydrogen network, aiming for decarbonization despite recent green hydrogen project cancellations elsewhere.
Germany ’s government has approved plans for the development of a hydrogen network that would cost 19 billion euros, equivalent to $20.5 billion. The plan would include converting natural gas pipelines into infrastructure for the transportation of hydrogen, building new pipelines as well, and connecting them all with big industrial energy consumers to help them decarbonize, Bloomberg reports. The natural gas pipeline conversion would cost some 2 billion euros, the report notes.
Denmark’s Ørsted said earlier this month it would abandon a project that was supposed to produce green hydrogen from wind power installations, saying that “a sub-scale demonstration plant like this no longer has a relevance in the current market.” Spain’s Repsol just this week said it would suspend all investments in green hydrogen in its home market as it braces up for the possibility of windfall taxes for the energy industry becoming a permanent fixture of the local regulatory landscape.
Hydrogen Network Decarbonization Green Hydrogen Energy Transition Infrastructure Natural Gas Pipelines Windfall Taxes Green Energy
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