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Spain Awards Rs10800 crore to Hydrogen Valley Projects
Feb 24, 2025
Spain's IDAE (Instituto para la Diversificación y Ahorro de la Energía) has announced a Rs10800 crore funding allocation for seven hydrogen projects spread across 11 locations to accelerate the development of Hydrogen Valleys in the country. The initiative falls under Spain’s Recovery and Resilience Plan (RRP) and is backed by the EU’s NextGenerationEU fund.
Key Highlights from Spanish Minister Sara Aagesen Muñoz:
- Rs4500 crore in total investments expected to be mobilized
- 2.3 GW of hydrogen capacity from awarded projects (against 4 GW requested and a national target of 12 GW by 2030)
- Job creation: 9,000 direct and 11,000 indirect employment opportunities
This move strengthens Spain's position as a leader in renewable hydrogen production, aligning with its National Energy and Climate Plan (NECP) and broader EU decarbonization goals.