On 30th of January, the European Climate, Infrastructure and Environment Executive Agency (CINEA) awarded 35,558,850 euro of grants for the H2med project studies submitted to the 2024 CEF energy call. CINEA has invited the H2med promoters to prepare a Grant Agreement, following a successful selection of a proposal for the mentioned studies. After the inclusion of the H2med projects, CelZa and BarMar, into the list of European Project of Common interest (PCI) in 2024, this is the next major administrative and financial step of the project. The H2med partners look forward to working with CINEA for the next milestones of the CEF funds granting.
The 28,336,978 euro funding will allow the H2med BarMar consortium to partially finance engineering studies, including marine and environmental reconnaissance campaigns. For the H2Med CelZa Project, the 7,221,872 euro funds will be utilised to execute the basic and detailed engineering phases for the pipeline and compressor station. Additionally, for both projects, the funds will support all necessary work for environmental assessments and obtaining of permits.
Following the results of the engineering studies, the H2med promoters will apply to another CEF Energy call for works to make the final investment decision.
The attribution of the CEF funds show both the technical advancement of the project but also the key role of the corridor in the future European hydrogen economy and the creation of an entire value-chain during the early 2030s. Furthermore, the H2med project will stimulate the involved countries' economies and accelerate their decarbonation trajectories.
Last December, in Madrid, ahead of CEF attribution, the consortium launched the H2med Alliance and signed a MoU between German and Spanish government representatives, the 5 TSOs and other companies along the value chain active in all countries of the corridor supporting the initiative. This alliance will play a crucial coordination role, ensuring continued support and advocacy for the corridor through targeted engagements and regular meetings. If you are interested in taking part in the initiative, please reach out to the TSO responsible for your geographical zone.
On the commercial side, results are also showing a positive momentum: following the closure of the non-binding Call for Interest (CFI) in early January, the H2med team is organising a webinar on February 10th, at 10 a.m. CET, to present the figures and implications raised during this call to the market. Details to follow soon.
