Italy authorises EUR-994m fund for Hy2Infra projects

Italy’s Ministry of Enterprise and Made in Italy (MIMIT) on Thursday announced the activation of a fund of over EUR 994 million (USD 1.07bn) to support the Italian hydrogen supply chain.

The funds will help realise the third Important Project of Common European Interest in the hydrogen value chain, known as IPCEI Hy2Infra. Italy’s action comes after in February the European Commission approved up to EUR 6.9 billion of state aid by seven member states, including Italy, for IPCEI Hy2Infra.

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MIMIT said that the Italian fund will provide contributions to Italian companies involved in the realisation of projects for the development of a European hydrogen network. The subsidies are granted in the form of expenditure contributions.

Overall, IPCEI Hy2Infra covers 33 projects by 32 companies, three of which are from Italy -- gas infrastructure operator Snam, Energie Salentine and Saipem.

(EUR 1 = USD 1.079)