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☆ Analysis: A year on, Europe less fearful of U.S. green subsidies push
  + stars: | 2023-08-17 | by ( Jan Strupczewski | Thomson Reuters | Jan Is The Acting Bureau Chief In Brussels. He Has Been Covering European Union Policy | ) www.reuters.com   time to read: +6 min
Solar panels are seen atop a hops plantation in the Bavarian Holledau region in Au, Germany, June 19, 2023. And already, those subsidies are flowing: German conglomerate Thyssenkrupp (TKAG.DE) will invest around 3 billion euros ($3.27 billion) in a proposed green steel plant in Duisburg, Germany, including over 2 billion euros in state subsidies given EU approval in late July. But it noted the U.S. model also had uncertainty built in because a change of administration could end IRA subsidies. The complexity of EU financing through the recovery fund means it is available only to bigger companies, leaving smaller firms struggling to benefit. ($1 = 0.9184 euros)Reporting by Jan Strupczewski; editing by Mark John and Susan FentonOur Standards: The Thomson Reuters Trust Principles.
Persons: Louisa, Joe Biden's, Biden, Niclas Poitiers, Jan Strupczewski, Mark John, Susan Fenton Organizations: REUTERS, United States, Union, Biden, EU, Zero Industry, European Commission, Sovereignty Fund, Ukraine, Russian, EV, Zero, Thomson Locations: Bavarian, Au, Germany, EU, BRUSSELS, United, Europe, Ukraine, Brussels, United States, Duisburg, U.S, France, China
☆ Germany's energy crisis powers hydrogen switch
  + stars: | 2022-12-29 | by ( Louisa Off Riham Alkousaa | Louisa Off | Riham Alkousaa | ) www.reuters.com   time to read: +3 min
The downside is that will increase carbon emissions and for the longer term, the firm is considering a switch to hydrogen, which is a much cleaner energy source provided it is produced using renewable power. "We want to be one of the first large companies in Bavaria to switch to hydrogen," Craig Barker, managing director of the 87-year-old firm, told Reuters. It also announced an action plan to support small and medium-sized companies as they switch to climate-neutral production, including expanding hydrogen infrastructure. More is required to accelerate investments in hydrogen, including a Hydrogen Act to cut bureaucracy and regulate the hydrogen ramp-up quickly, utility industry association BDEW said earlier this month. "2023 must provide new impetus for investments in renewable energies, hydrogen, hydrogen-capable gas-fired power plants and energy networks," BDEW president Kerstin Andreae said.
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