Daniel Atzori, Research Partner, Cornwall Insight, UK, details the role of hydrogen in Italy’s green recovery, as the country’s economy recovers from economic stagnation.
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n 30 April 2021, Prime Minister Mario Draghi submitted Italy’s Recovery Plan to the EU Commission. As the country embarks on its green revolution, this article will explore whether Italy will succeed in becoming a leading hydrogen player. The appointment of Mario Draghi, former Head of the European Central Bank, as Prime Minister on 13 February 2021 has provided the country with a unique opportunity to embark on a virtuous path of a sustainable recovery after having been heavily hit by the COVID-19 pandemic following decades of economic stagnation. According to projections by the Organisation for Economic Co-operation and Development
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(OECD), Italy, whose GDP suffered a -8.9% loss in 2020, is expected to rebound 4.5% in 2021 and 4.4% in 2022.
The recovery plan The recovery plan for Europe is centred on the EU’s €750 billion Next Generation EU, which is the largest ever stimulus package financed through the EU budget. The largest chunk of the Next Generation EU fund will be composed of the Recovery & Resilience Facility (RRF), which in turn includes €312.5 billion of grants and €360 billion of loans. At least 37% of the resources need to contribute to climate action and environmental sustainability and 20% to the digital transition. EU countries