EC grants €5.2 billion to Enel and Eni via IPCEI Hy2Use
The Gela biorefinery and the Taranto refinery will soon host 20MW and 10MW electrolysers respectively, following the validation of the IPCEI Hy2Use agreement.
| Sectors | Hydrogen Energy, Biomass Energy, Green Hydrogen |
|---|---|
| Themes | Investments & Transactions, Project Development, Financing |
| Companies | Eni |
| Countries | Italy |
Enel Green Power and Eni receive public funding under the IPCEI Hy2Use. This is a project of European interest to support research and construction of related infrastructure for the first industrial applications of renewable hydrogen.
The financing decision was prepared and notified to 13 EU Member States. The IPCEI Hy2Use project will allocate up to €5.2 billion to support the two projects of Enel Green Powet and Eni. It is
South Italy Green Hydrogen, the joint venture created by the two companies that will benefit from IPCEI Hy2Use funding
One of the projects will be located at the Gela biorefinery (Sicily) where a 20 MW electrolyser will be installed. The other will be near Eni’s Taranto refinery where the groups will install a 10 MW electrolyser.
The Italian giants in accordance with the various directives validated by the European community in recent months declares through Salvatore Bernabei is the CEO of Enel Green Power:
“We are proud that these projects have been selected by the European Union as part of the prestigious IPCEI Hy2Use. Both initiatives, in collaboration with Eni, represent an important step towards building utility-scale electrolysis facilities, allowing us to test and accelerate the development of the entire supply chain for green hydrogen production in Europe.”
The implementation of these projects may be the subject of future agreements. These will be finalized in accordance with applicable regulations, including those on related party transactions.
As for renewable hydrogen, Enel Group is working on several other projects in Spain, Chile and the United States. As for Eni – the largest producer and consumer of hydrogen in Italy – it will open a hydrogen station in Venice in June 2022. In addition, it is considering other initiatives in Italy and abroad to decarbonize hard-to-reduce industries and heavy transport. Ultimately, the goal for the group is to produce 4 MTPA of low-carbon renewable hydrogen by 2050.
