EU Backs Galp’s Green Hydrogen Project with €180m Loan

Portugal’s Galp Company has received a €180 million loan from the European Investment Bank (EIB) to support the development of a 100MW green hydrogen production facility at the Sines Refinery. The electrolyser is set to start production in 2026 and aims to produce 15,000 tonnes of green hydrogen annually. Additionally, €250 million has been allocated for Galp’s biofuel unit to enhance its renewable energy initiatives, aligning with the EU’s goal for decarbonisation to achieve net-zero emissions by 2050.