the Government will allocate 13.2 billion euros of European funds

The President of the Government, Pedro Sánchez, has presented the general lines of an ambitious recovery plan It plans to mobilize more than 140,000 million euros from European recovery funds to boost economic growth between 2021 and 2026.

From that game, € 13.2 billion will go to sustainable and connected mobility, which includes green hydrogen.

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In accordance with European guidelines, the measures included in the plan establish four axes of transformation: ecological transition, digital transformation, social and territorial cohesion and gender equality.

Thus, of the 20 main investments that are going to be developed in the first phase of the plan, the most relevant for its budget is the so-called Sustainable, Safe and Connected Mobility strategy, with resources of more than 13,200 million euros.

Thus, the amount announced by the government in November to boost the Spanish automotive sector is increased by 3,200 million euros.

7,000 hydrogen vehicles rolling in 2030

Mercedes Fuell Cell

This plan includes a new energy system and the deployment of renewables, with a green hydrogen roadmap and support for the installation of electrolyzers and hydrogenerators.

The goals for 2030 are:

  • Installation of 4 GW of installed power of electrolysers.
  • Minimum contribution of renewable hydrogen of 25% of the total hydrogen consumed in all consuming industries both as a raw material and as an energy source.
  • A fleet of at least 5,000-7,500 light and heavy hydrogen fuel vehicles.
  • Deployment of 150-200 renewable hydrogen fuel cell buses.
  • Italy and Spain are committed to developing possible alliances and projects on this front, in the context of the European Clean Hydrogen Alliance.

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Let us remember that in November 2020 the Central Executive already advanced this intention to allocate, in the next three years, more than 1,500 million euros to the development of green hydrogen.

This caused a very positive reaction in the energy sector, and within the electricity, gas and oil companies there has been a euphoria around renewable hydrogen with a multitude of projects on the table that can attract these funds.

More charging points

Electric car

These 13.2 billion euros will also be spent in the next three years, Sánchez said, to promote the electric car and strengthen the charging infrastructure.

The goal is to install between 80,000 and 110,000 charging points. And beware that the MOVES III Plan is already underway.

The plan, in the words of the Prime Minister, is “the most ambitious in the recent economic history of Spain.” The first € 70 billion will be mobilized between 2021 and 2023.

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