Germany earmarks up to $3.8 billion for future green hydrogen imports

By Thomson Reuters Feb 20, 2024 | 10:05 AM

BERLIN (Reuters) – Germany will earmark up to 3.53 billion euros ($3.82 billion) of public funds to procure green hydrogen and its derivatives between 2027 and 2036, the economy ministry said on Tuesday, as Berlin bets on the climate neutral fuel to decarbonize Europe’s biggest economy.

“The aim of the funding measure is to bring together supply and demand, both in terms of quantities and prices,” the ministry said in a statement, adding that money will come from the government’s Climate and Transformation Fund.

($1 = 0.9244 euros)

(Reporting by Riham Alkousaa; Editing by Madeline Chambers; Editing by Madeline Chambers)