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Giant cooperation of 2.5 billion euros from Spain, Portugal and France

The H2MED Project, which is expected to be operational in 2030 between Celourico da Beira-Zamora and Barcelona-Marseille and to meet 10 percent of the EU’s green hydrogen consumption, is expected to cost approximately 2.5 billion euros.

Spain, France and Portugal have agreed to implement the H2MED Project on the Celourico da Beira-Zamora and Barcelona-Marseille lines, which has been described as the European Union’s (EU) largest green hydrogen corridor so far.

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Prior to the “EuroMediterranean Summit (UE-MED9)” held in Alicante, Spain, Spanish Prime Minister Pedro Sanchez, Portuguese Prime Minister Antonio Costa, French President Emmanuel Macron and EU Commission President Ursula von der Leyen met.

In the joint statement made after the meeting, where the details of the H2MED Project were discussed, it was reported that an agreement was reached on the construction of the green hydrogen corridor between Celourico da Beira-Zamora and Barcelona-Marseille, which is expected to cost 2.5 billion euros. 

“It will become one of the most important energy centers of the EU” 

The President of the EU Commission stated that according to the EU’s 2030 energy targets, 10 million tons of annual production and 10 million tons of imports are foreseen in green hydrogen and said, “With the H2MED Project, which will serve the common interests of France, Portugal and Spain, progress has been made in the EU’s goals. The Iberian Peninsula, which will be the energy gate of the EU as of today, will become one of the most important energy centers of the EU with this project.” Leyen stressed that H2MED is just “a promising start”. 

 

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“The project has been one of the best responses to Putin’s energy blackmail” 

Spanish Prime Minister Sanchez said that Russian President Vladimir Putin’s “one of the best responses to energy blackmail was given by the exemplary cooperation of Spain, Portugal and France with the H2MED Project”. 

The project will be completed in 2030 

Emphasizing that the issues of reducing dependency and increasing diversity in energy supply gained great importance with the Russia-Ukraine War, Sanchez said:

“The EU’s largest ever green hydrogen corridor project will have two legs. The green energy corridor that forms the first leg will be between Celourico da Beira (Portugal) – Zamora (Spain) and the second between Barcelona (Spain) – Marseille (France). By 2030, 10 percent of the green hydrogen consumed by the EU will be supplied from here. 

“We will create a new source of energy”

Portuguese Prime Minister Costa said, “The Russia-Ukraine War brought the obligation to increase energy security. We have to be less dependent on energy by increasing diversity without being dependent on third countries. With this project we have prepared in the spirit of cooperation, we will become both an exporter and an importer in energy in the EU. Green We will produce hydrogen with hydraulic and solar energy in our own infrastructures and create a new source of energy.” made its assessment.

President of France, Macron, stated that the problems in H2MED, for which the preliminary agreement was made in October, were eliminated and this project met all expectations in terms of both ecological, industrialization and energy sovereignty.

While H2MED is expected to be presented to the EU Commission on December 15, nearly 50 percent of its financing is requested to be covered by EU funds.

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