THE HAGUE, July 29 -- The European Commission announced on Monday that it has approved a 998 million euros (1 billion U.S. dollars) Dutch subsidy scheme aimed at boosting the country's electrolysis capacity and supporting the production of renewable hydrogen.

This initiative aligns well with Brussels' green agenda, the commission said in a press release, explaining that it aims to contribute to the development of renewable hydrogen in accordance with the objectives of the European Union (EU) Hydrogen Strategy and the European Green Deal.

The subsidy scheme will support the construction of at least 200 megawatts (MW) of electrolysis capacity in the Netherlands, according to the commission.

The scheme will help the Netherlands achieve its target of 500 MW of electrolyzer capacity by 2025 and 3 to 4 gigawatts by 2030, it said. (1 euro = 1.08 U.S. dollar)

  - Xinhua