The two Greek important projects of common European interest (IPCEI), which will use the fuel cell technology of Advent, will now seek approval at the EU level
Advent Technologies announced that its White Dragon and Green HiPo projects have been approved by the Greek government and have been submitted to the European Union (EU) for funding support.
The two Greek important projects of common European interest (IPCEI) have been approved by a joint decision by the country’s Minister of Development and Investments Adonis Georgiadis and the Minister of Environment, Energy, and Climate Change Kostas Skrekas.
White Dragon is a green hydrogen project, designed to support the phase out of 2.1GW of lignite-fired capacity by 2029. Green HIPo, on the other hand, involves the construction of a plant for producing innovative electrolytes and fuel cells in Western Macedonia.
The two projects will use the fuel cell technology of the US-based Advent Technologies.
They are among five projects, out of 20 submitted, that had been approved and selected following evaluation by a special interministerial committee of experts.
Advent Technologies chairman and CEO Vasilis Gregoriou said: “We are thrilled with this news that the White Dragon and Green HiPo projects have been approved by the Greek government in the first wave of the IPCEI projects.
“This decision demonstrates the commitment by Greece and the EU to rapidly decarbonise power production.”
According to Advent Technologies, the two projects aim to replace Greece’s largest coal-fired plants with renewable solar energy parks.
The parks will be supported by 4.65GW of green hydrogen production and 400MW fuel cell heat and power production.
The projects will now seek approval at the European Union (EU) level.
For this, Advent Technologies will have to demonstrate the economic, environmental, financial, social, technical feasibility of the projects before the European Commission (DG Competition).
The company will also have to explain how the European economy and society can get positive spillover effects from the projects.
The White Dragon project will use large-scale renewable electricity for producing green hydrogen by electrolysis in the region.
The produced hydrogen will be stored and through the company’s high-temperature proton exchange membrane (HT-PEM) fuel cells, will supply all clean electricity, green energy, and heat in Greece.
The Green HIPo project will complement the White Dragon by manufacturing HT-PEM fuel cells for producing heat and power.