Spain’s Prime Minister Pedro Sanchez has been focusing on supporting the country’s energy transition, through creating a package involving green hydrogen and renewable energy subsidies. The package that the PM has put together, will be collectively worth $2.5bn.

This excellent plan was announced on the 17th of July and the package entails four programmes which collectively cover hydrogen, green industries and measures which aid agriculture, infrastructure and villages transition to green energy. When this plan was revealed, it was announced as an address to the Cortes Generales.

The way in which this plan aligns with the county’s ambitious hydrogen goals, is through its intention to increase wind generation to 62GW, solar generation to 76GW and power storage to 22GW.

On top of this, the PM also announced that another $985m worth of funding would be supplied to ten major hydrogen projects through the county. The selected projects would all fall within the hydrogen sectors of production, transport and development.

All the funding a dedication to developing hydrogen products is occurring because, recently Spain has been emerging as Europe’s green hydrogen powerhouse. Furthermore, due to Spain’s cheap renewable energy, three of the seven projects which will secure subsidies under the pilot European Hydrogen Bank (EHB) auction, will be planned for Spain.

In 2023, the Spanish government came close to tripling its green hydrogen production targets to 11GW by 2030. This all occurred under a draft update of its Energy and Climate Plan.

In February, Sanchez stated that, ‘the government would boost renewable energies to make Spain “a global benchmark in decarbonisation based on renewable hydrogen.”’