(Finance) – The project “Puglia Green Hydrogen Valley” was selected for an IPCEI (Important Projects of Common European Interest) loan equal to a maximum amount of 370 million euros, confirming its strategic nature and concreteness. The initiative is one of the first for the green hydrogen production on a large scale in Europe and involves the construction of two plants in Brindisi and Taranto, for a total electrolysis capacity of 160 MW. Once in operation, it is estimated that the Puglia Green Hydrogen Valley plants will be able to produce approximately 250 million cubic meters of green hydrogen per year.
“The IPCEIs are examples of European cooperation, in which companies, Member States and the Commission, each for their own role, work together to achieve a common goal – declares Giovanni Brianza CEO of Edison Next, the Edison group company that accompanies customers and territories in the decarbonization process – Having been awarded the IPCEI loan for the Puglia Green Hydrogen Valley project, alongside relevant partners such as Sosteneo and Saipem, is further confirmation of the strategic nature and concreteness of a “an initiative that aims to contribute to achieving the decarbonisation objectives of the country and, more specifically, of the Puglia region.” concludes Brianza.
“We are pleased that the European Union has recognized the Puglia Green Hydrogen Valley project, carried out in collaboration with Edison and Saipem, as a strategic initiative within the prestigious IPCEI Hy2Infra financing”, they say Umberto Tamburrino, Managing Partner, CEO and CIO Europe – and Federica Gallina – Partner and Investment Principal Europe – of Sosteneo SGR SpA “The IPCEI loan will represent the main driver for the development of the supply chain dedicated to the production of green hydrogen in Europe and will support Puglia Green Hydrogen Valley in the pursuit of decarbonisation objectives. The project is an example of how institutions, companies and specialist investment managers like Sosteneo can work together to achieve positive outcomes for local communities, national economies and investors.”
Fabrizio Botta, Chief Commercial Officer of Saipem, states: “The selection within IPCEI Hy2Infra is an important recognition for a strategic project at an Italian and European level and at the same time confirms that when Italian companies form a system they are able to achieve important results. The technologies and their ability to integrate them into green hydrogen and its derivatives represent for Saipem a pillar of the low and zero carbon offer for our customers”.
The IPCEI “Hy2Infra” involves 33 projects from 32 companies, from seven member states: France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia. Puglia Green Hydrogen Valley is one of three Italian projects to have been awarded the funding. The member states will provide up to 6.9 billion euros in public funding, the highest amount of aid approved so far for IPCEIs in the hydrogen field. This is expected to unlock a further €5.4 billion in private investment, for a total of more than €12 billion. This is an important step for the hydrogen supply chain, for whose development public funding and incentives are fundamental in order to make not only the initial investments but also the costs of production economically sustainable for initiatives based on this technology. next operational phase.
Participants in “Hy2Infra” will be among the first to face and solve the technical challenges related to new large-scale green hydrogen infrastructure projects, and will thus be able to gain operational experience useful to other market players. The “Puglia Green Hydrogen Valley” project, which saw the recent entry of Sosteneo SGR SpAa company in the Generali Investments ecosystem focused on infrastructure projects for renewables and innovative systems linked to the energy transition, alongside Edison and Saipem, has been identified by the Puglia Region as a strategic opportunity to achieve the ambitious energy transition objectives that have been established, through the decarbonisation of its industrial sector and in particular of the Apulian steelmaking hub.
The “Puglia Green Hydrogen Valley” is also synergistic with the project for the construction of a gas pipeline for the transport of hydrogen between Brindisi and Taranto, promoted by Snam and also part of the projects benefiting from the IPCEI “Hy2Infra” financing.