July 28, 2020
Portugal had received investment proposals for industrial production of hydrogen-based energy totalling 16 billion euros (18.3 billion U.S. dollars).
The Government received 74 intentions to invest in the industrial sector of hydrogen, amounting to 16 billion euros. This is equivalent to 7.5% of the Portuguese GDP, announced today the Ministry of Environment and Climate Action.
The projects covered different strategic areas, starting with the production of green hydrogen for use in transport.
The projects revealed “the mobilization capacity of the Portuguese industry and the recognition of the opportunity for the development of the hydrogen economy, in a national and European context,” stated the ministry.
This market survey was created to strengthen the Portuguese candidacy the Important Project of Common European interest and to encourage synergies at the industrial cluster level.
The invitation was aimed at Portuguese or European companies or entities whose projects were translated into added value for the country, namely through the establishment in Portugal and the job creation, and the reduction of carbon dioxide equivalent emissions associated with the projects.
It is to be recalled that Portugal’s government approved, recently, hydrogen strategy which foresees investments of 7 billion euros.
Source: AICEP, TEKAW