9,224.84 TRY BIST 100 BIST 100
38.44 USD USD USD
5.32 CNY CNY CNY
43.71 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.98 TRY Interest Interest
63.56 USD Fossil Oil Fossil Oil
40.67 USD Silver Silver
4.76 USD Copper Copper
98.50 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,094.11 TRY Gold (gr) Gold (gr)

Green steel support of €370 billion for Italy from the European Commission

The European Commission has notified that it will provide funding to support Italy's green steel production.

Green steel support of €370 billion for Italy from the European Commission

In early February, the European Commission announced that it has approved nearly €7 million in state aid funding for hydrogen infrastructure projects in 7 EU countries. The IPCEI Hy2lnfra project, which includes France, Germany, Italy, the Netherlands, Poland, Portugal and Slovakia, will establish the first regional infrastructures in many member states and prepare the ground for a Europe-wide European Hydrogen Strategy.

The project includes the construction of two electrolyzers with a capacity of 160 megawatts, the facilties in Brindisi and Taranto are expected to produce about 250 million cubic meters of green hydrogen per year and will provide clean fuel to local industry, especially the Apulia steel production center. Green hydrogen produced in the project will be accessible via a hydrogen pipeline to be built by Snam and operations will start in 2028.

The IPCEI funding supports green hydrogen and the Puglia Green Hydrogen Valley decarbonization projects, Sosteno SGR announced, adding that they have completed work to build hydrogen-based DRI plants for the production of carbon-free steel, led by DRI D'Italia, owned by the Italian company Invitalia, in the steelmaking process.

It is envisaged that the IPCEI Hy2lnfra project will support and lead the development of green hydrogen production in Europe.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Egypt boosts sector with new mining law

Wednesday, April 30, 2025

Vallourec signs USD 130 million OCTG steel pipe supply contract in Kuwait

Wednesday, April 30, 2025

Josu Pina Bilbao “SSAB is a pioneer in fossil fuel-free steel”

Monday, April 28, 2025

US steel imports increase by 11.4% in March

Tuesday, April 29, 2025

Vardhman Special Steels to set up new greenfield steel plant in Punjab

Tuesday, April 29, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now