RWE Secures EUR 619 Million Funding for Hydrogen Projects in Germany

German energy giant RWE AG (ETR:RWE) is set to receive EUR 619 million (USD 674.09 million) in funding for its ambitious hydrogen infrastructure projects under the IPCEI Hy2Infra programme, approved by the European Commission earlier this year. The funding, allocated jointly by the federal government and the states of Lower Saxony, North Rhine-Westphalia, and Mecklenburg-Western Pomerania, aims to bolster RWE's efforts in advancing Germany's hydrogen economy. RWE plans to establish a 300-MW electrolysis plant in Lingen, Lower Saxony, alongside a hydrogen storage facility in Gronau-Epe, North Rhine-Westphalia. Additionally, the consortium, which includes RWE, will receive EUR 199 million for developing a 100-MW electrolyser plant at the port of Rostock, Mecklenburg-Western Pomerania, as part of the HyTechHafen Rostock project. Berlin will cover 70% of the funding, with the remaining 30% contributed by the federal states. RWE itself will invest a significant amount in the projects. In Lingen, RWE's GET H2 Nukleus project aims to scale hydrogen generation to 300 MW by 2027, with the first 100-MW electrolyser slated for commissioning in 2025. This initiative underscores RWE's commitment to expanding hydrogen production capacities in response to growing demand for clean energy solutions. Meanwhile, in Gronau-Epe, RWE Gas Storage West intends to repurpose two caverns for hydrogen storage, crucial for stabilizing fluctuations in renewable energy production from wind and solar sources. Initial operations at this hydrogen storage facility are expected to commence in 2026. The German economy ministry's announcement earlier today highlighted a broader commitment to hydrogen infrastructure, with 23 projects across the value chain receiving EUR 4.6 billion in funding. This investment underscores Germany's strategic push towards decarbonization and energy security through hydrogen technology.