Wedoany.com Report-Dec 12, Almost 20 European companies across France, Germany, Portugal and Spain have formed the H2Med Southwestern Hydrogen Corridor alliance, aiming to create a European hydrogen single market.
Building on the existing ambitious plans to build a hydrogen pipeline connecting production centres in Spain and Portugal with end-users in northern Europe, the alliance aims to accelerate its implementation by the “early 2030s.”
thyseenkrupp nucera, CIP, DH2, Elyse Energy, Enagas, GRTgaz, HDF, Hynamics, Moeve, OGE, QAIR, REN, SEDE, SHS, Terega and thyssenkrupp Steel Europe, announced the alliance at the German Embassy in Madrid on December 11.
The network is expected to be made up of the Spanish and Portuguese backbones, major developments including HY-FEN, H2ercules Network South, mosaic and more.
Developers anticipate that interconnections between Portugal-Spain and Spain-France will have capacities of 0.75 mtpa and 2 mtpa of hydrogen, respectively.
With an estimated joint investment of €2.5bn, developers plan for EU funding to be the primary source of financing, with the projects forming the corridor already recognised as Projects of Common European Interest (PCIs).
“Our alliance unites the strengths of leading European companies to drive the energy transition by connecting supply and demand, scaling production capacities and establishing trans-European hydrogen ecosystem,” said thyssenkrupp nucera CEO, Werner Ponikwar.
It comes after five transmission system operators (TSOs), developing respective legs of the pipeline network launched a Call for Interest on the pipeline’s requirements last month.
The network hopes to leverage Spain and Portugal’s high renewable energy potential and northwestern Europe’s industry as an internal market for green hydrogen.
