The H2med project secures more than 35 million euros of CEF funding.
The European Climate, Infrastructure and Environment Executive Agency (CINEA) has awarded 35,558,850 euros to finance the H2med project studies submitted to the 2024 Connecting Europe Facility (CEF) call. Following the selection of the proposal for the funding of the studies, CINEA has invited the promoters of H2med to draw up a Grant Agreement. This step, following the inclusion of the H2med CelZa and BarMar projects in the list of European Projects of Common Interest (PCI) in 2024, represents another significant step forward in the administrative and financial procedures of the project. The H2med partners will work together with CINEA to develop the next milestones in the CEF funding process.
A total of 28,336,978 euros of the grant will enable the H2med BarMar consortium to partially fund engineering studies, including marine and environmental reconnaissance campaigns. For the H2Med CelZa project, a total of 7,221,872 euros of the grant will be used to perform the basic and detailed engineering phases for the gas pipeline and the compressor station. Work related to the environmental assessment and permitting phases of both projects will also be supported by these funds. Once the results of the engineering studies are available, the H2med promoters will submit another proposal to the CEF call for a final investment decision.
The award of these CEF funds not only demonstrates how advanced the project is in technical terms, but is also an indicator of the key role that this corridor will play in the future European hydrogen economy and in helping to create an end-to-end value chain by the early 2030s. Furthermore, the H2med project will provide an economic boost to the countries involved, speeding up their decarbonisation processes.
On the commercial side, results are 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 10 February at 10 a.m. (CET) to present to the market the figures and conclusions drawn from this call for interest. More details will follow soon. Click here for more information and to register.
Sources: Enagás, European Commission
