Spanish Prime Minister Pedro Sanchez announced on Wednesday a new 2.3 billion euro ($2.5 billion) plan aimed at accelerating the country’s transition to clean energy. This initiative includes subsidies for green energy industries and the production of hydrogen derived from renewable sources.
In his address to the lower house, Sanchez highlighted that the plan will also incorporate measures to facilitate the transition to green energy for agriculture, infrastructure, and rural communities.
Further details about the new plan were not disclosed during his speech. Spain has established itself as a leading nation in renewable energy within Europe, capitalizing on abundant sunshine and strong winds for energy generation. With renewable energy achieving new milestones, the country aims to become a significant producer of green hydrogen in the region, generated from renewable electricity sources. Earlier this month, Madrid approved a subsidy package totaling 794 million euros for large-scale green hydrogen projects in the country, with a potential electrolysis capacity of up to 652 megawatts.
