Portuguese Fusion Fuel has been awarded a €3.3m ($3.5m) grant by the H2 Pioneros programme to develop a 2.4MW green hydrogen project in Spain.
Planned to be developed in Toledo, Spain, the 2.4MW project is intended to supply green hydrogen to local industrial customers to replace natural gas currently used in industrial processes.
Fusion Fuel has said the facility will feature the latest generation of its HEVO solution to produce approximately 110 tonnes of green hydrogen per annum, with the €3.3m subsidy representing around 57% of the total estimated capital cost of the project, which is hoped to be built and commissioned during 2024.
H2 Pioneros is one of the first funding calls under the Spanish Government’s Strategic Projects for Economic Recovery and Transformation (PERTE) programme, a €6.9bn ($7.3bn) financing tool to support initiatives in renewable energy, green hydrogen and energy storage.
H2 View understands Fusion Fuel’s Toledo project is one of only 19 across Spain to have been awarded a grant through H2 Pioneros.
“This is an important milestone for Fusion Fuel and our partner in Fusion Fuel Spain, as it represents the first allocation of PERTE funds in Spain, within an extremely competitive process with 129 projects evaluated,” said Frederico Chaves, Co-Head of Fusion Fuel.
Chaves added, “Our project in Toledo now joins an ever-growing list of green hydrogen projects in Spain. With land already secured, we hoped to mobilise quickly to begin the permitting process with the aim of starting construction of the project in early 2024.”
Over the past 12 months Fusion Fuel has made quick strides, widening its reach across southern Europe and even the US. In January (2023), the company revealed it had signed an offtake agreement with Dourogás for green hydrogen produced from its Portuguese projects.
