German Stimulus Package Wins Praise for Hydrogen Support
Germany's post-coronavirus economy recovery package has set aside €7bn ($7.8bn) to develop hydrogen energy and cut emissions, setting the goal of establishing 5 GW of capacity by 2030 and double this amount by 2040.
"The measures are aimed at making Germany the world's supplier of state-of-the-art hydrogen technology," the paper published by the government on June 3 stated.
The stimulus package has won praise from Germany's Uniper, which issued a statement describing it as "a strong positive signal" from the coalition government.
"The coalition recognises the important role hydrogen will play in the energy future. Committing to an important initial financial package and tax exemptions is of the essence to support the start of the hydrogen economy, an essential element for developing a sustainable energy future," CEO Andreas Schierenbeck said. "This is the right signal at the right time. With the coalition’s compromise, we are convinced that the hydrogen strategy will now also be adopted shortly – hydrogen will be a central key to decarbonise most sectors."
Uniper aims to make its power generation in Europe carbon-neutral by 2035.