The European Commission has approved a Greek state aid of €111.7 million under the Recovery and Resilience Facility to Motor Oil Hellas in the production of renewable hydrogen. 4b3j58

The measure will contribute to the decarbonization of the mobility and industry sectors and will help boost the hydrogen market in Greece. It will be financed through the Recovery and Resilience Facility ("RRF") following the Commission's positive evaluation of Greece's Recovery and Resilience Plan and its adoption by the Council. The aid will take the form of a direct grant.

This investment will Motor Oil Hellas' "Green Hydrogen" project, which involves the installation of an electrolyzer with an expected capacity of 50 MW, powered by energy from renewable sources.

The Commission assessed the measure in line with EU state aid rules, in particular Article 107(3)(c) of the Treaty on the Functioning of the EU, which allows Member States to the development of certain economic activities under specific conditions, and the 2022 Guidelines on State aid for climate, environmental protection, and energy ("CEEAG").

The Commission concluded that the measure is necessary and appropriate to contribute to the reduction of greenhouse gas emissions through the production and supply of renewable hydrogen, in line with the objectives of the REPowerEU Plan.