France allocates €700M for green hydrogen


France – France has allocated €700 million ($737 million) to support the production of green hydrogen in 2024. The funding is part of a €10 billion package for ecological planning announced in late September 2023, which also includes €1.5 billion for nuclear power in 2024.

France is planning to issue a call for tenders for 150 MW of electrolysis capacity for hydrogen production in 2024, followed by 250 MW in 2025 and 600 MW in 2026, according to a consultation document published in September 2023.

France aims to have 6.5 GW of installed electrolyzer capacity by 2030, while the EU is targeting 10 million metric tons per year of green hydrogen production by that date, which will require over 80 GW of electrolysis.

Green hydrogen economy

The development of a green hydrogen economy has the potential to reduce greenhouse gas emissions and combat climate change. Green hydrogen can be used to decarbonize many sectors of the economy, including transportation, industry, and power generation.

France’s allocation of €700 million to support green hydrogen production in 2024 is a significant development for the green hydrogen sector in France and Europe. The funding will help to reduce the cost of producing green hydrogen and accelerate the development of a green hydrogen economy.