Germany To Invest €4.6 Billion In 23 Green Hydrogen Projects
...As Orders To Turbine Maker Nordex Group Surge By 27% In First Half 2024
German Minister of Economic Affairs and Climate Protection, Robert Habeck, at the opening ceremony for the handover of grant notifications for projects in the IPCEI Hy2Infra wave at his ministry
Germany has said arrangements have reached an advanced stage to invest €4.6 billion (an amount that will increase to €7.9 billion by 2030) in pioneering hydrogen projects, aiming to boost the production, storage and transportation of a potentially transformative source of green energy.
A statement by the Ministry of Economic Affairs and Climate Protection quoted the Minister, Robert Habeck as saying: “With the funding of hydrogen projects, we are taking an important step towards a climate-neutral and sustainable economy in Europe and beyond.”
A report by the German News Service (as delivered by dpa) disclosed that the German federal government and some state governments have earmarked a total of €4.6 billion ($4.9 billion) for 23 projects.
Habeck said a powerful hydrogen infrastructure could play a key role in the decarbonization of German industries and the energy sector, adding: “Hydrogen pipelines will be the lifelines of industrial centres. This creates the precondition for climate-neutral growth.”
The projects are centred on the large-scale production of green hydrogen, but also innovative and secure storage solutions as well as transport infrastructure spanning up to 2,000kilometres.
Part of the funding comes from the European Union (EU), while businesses involved in the projects are due to invest another €3.3 billion.
According to the ministry, the total investment will thus represent €7.9 billion by 2030.
Meanwhile, Dark clouds are gathering over the rotor blade factory of German wind-turbine manufacturer, the Nordex Group.
German wind turbine maker Nordex secured 3,357 megawatts (MW) of orders in the first half of the year, reflecting a 27 percent increase compared to the previous year.
The orders in the first half of 2024 are from the group’s projects segment and they exclude its service business.
The average sales price in Euros per megawatt of capacity (ASP) continued to remain on a stable level of €0.89 million/MW in the first half of this year compared to last year.
Chief Executive Officer (CEO) of Nordex Group, Jose Luis Blanco, said there was “strong demand” for its N163 turbines, both in Europe and globally, which has led the company to “re-affirm our confidence in our order intake plans for the remainder of this year.”
