The European Commission (EC) has approved an Important Project of Common European Interest (IPCEI) to assist a range of hydrogen value chain initiatives. The IPCEI Hy2Tech project intends to aid in both the initial industrial deployment of hydrogen technology as well as its research and development. It was created and announced jointly by 15 member states of the European Union.
According to the agreement, the member states will contribute up to $5.46 billion in public funding, which might entice $8.9 billion more in private investments. A total of 35 companies will take part in 41 different projects that involve the production of hydrogen, fuel cells, its storage, transportation, and end-user applications. It is anticipated that IPCEI Hy2Tech will create 20,000 direct jobs. The companies that are participating in the project include Alstom, Daimler Truck, Ansaldo and Neste.
In June 2022, Iberdrola announced the start of operations at its 33.6 MW Mikronoros wind farm in Greece. The wind project, which is located in Rhodopes, Thrace, consists of eight V150 4.2 MW wind turbines, each with a hub height of 105 metres and a rotor diameter of 150 metres. The wind power project would provide renewable power to over 34,000 homes.
