Germany sharp hydrogen and clean industry budget cuts send “totally wrong signal” – energy industry
Clean Energy Wire
Industry association BDEW, said:
The new German government’s spending plans that come with sharp drops in funding for hydrogen projects and industry decarbonisation put the future of the country’s industry at risk, the energy industry has warned.
“The plans “neglect urgently needed investments in a sustainable and resilient energy system,”
The head of the lobby group, Kerstin Andreae, said:
The draft budget sends a totally wrong signal, particularly with regard to promoting the ramp-up of hydrogen,
The medium-term financial planning for Germany’s national hydrogen strategy is being cut by a third, Andreae criticised.
The group, said:
Financing explicitly dedicated to the “decarbonisation of industry” was cut to less than two billion euros in the medium term from a prior 24.5 billion euros,
Andreae, said:
The government is making the same mistakes as the European Commission: the demands for transformation and the reality of the framework conditions do not match,
Andreae, said:
These drastic cuts in funding for hydrogen projects are damaging industry and the competitiveness of Germany as a location for industry
“Urgent improvements are needed here. The budgetary authorities must respond urgently to get the hydrogen ramp-up off the ground.”
The German government on Tuesday adopted a draft budget with a massive increase in defence spending, subsidies for energy costs and more money for the country’s Climate and Transformation Fund (CTF) funded by new debt and dedicated special funds.
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Germany sharp hydrogen and clean industry budget cuts send “totally wrong signal” – energy industry, source
