German PtX Development Fund awards its first grant

Fortunately, positive news from the German side as well! The Power-to-X Development Fund, established by the German Ministry for Economic Cooperation and Development (BMZ), has assigned its first grant. The fund is awarding €30 million to the Egypt Green Hydrogen consortium. This project was the only winner in the inaugural H2Global auction. The €270 million fund, managed by German asset manager KGAL, seeks to promote the production of green hydrogen and its derivatives in developing and emerging economies. It provides grants to help cover a portion of a project’s capital expenditures. This link will take you to the press release.