A broad majority in the Danish Parliament has agreed that Denmark will invest 850 million DKK in a joint European project on the Power-to-X technology. This is stated by the Ministry of Climate, Energy and Utilities in a press release.
Power-to-X is a technology that enables green electricity from wind turbines and solar cells to be used to produce hydrogen, which can be converted into clean fuel for ships and aircraft. That is why it is often highlighted when talking about technological possibilities for reducing the use of fossil fuels.
- With a joint, European effort, we can really scale up the technology and reduce the price and accelerate the green transition of, for example, shipping and aviation, which cannot immediately be directly electrified, says Dan Jørgensen (S) in the press release.
More flexible support
Of the 850 million DKK, 240 million will come from the European Commission. DKK from already existing funds, and thus there are DKK 610 million in new funds in the agreement. The money is being invested in what is called an IPCEI, which is an English acronym for "important projects of common European interest."
An IPCEI project has some special EU rules that make it easier and more flexible to provide support from the states. Here, it is a prerequisite that the companies seeking support also contribute themselves.
Denmark is nominating six projects to share in the money and the work of developing the Power-to-X technology. According to Watchmedier, among the six projects is an Ørsted-led project Green Fuels, which will establish an electrolysis plant at Avedøre Holme south of Hvidovre, as well as two projects in Esbjerg and one in Skive.
The projects can cover everything from use to distribution to production itself. The final selection of projects is expected to take place in July.
Ritzau
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