Racine advises TotalEnergies and Engie, in connection with the European Commission’s approval of State aids totalling €5.2 billion granted to 29 European companies for an important project of common European interest (IPCEI) in the hydrogen sector (Hy2Use).

The European Commission approved on 21 September the aids granted by 13 States, including France, to 29 companies in order to create a complete European hydrogen industry. This is the second wave of IPCEIs approved in this sector after those of last 15 July.

TotalEnergie and Engie’s project in the framework of this IPCEI consists in a potential investment in a renewable hydrogen production plant (electrolyser), intended to supply the bio-refinery of TotalEnergies at La Mède in the Provence-Alpes-Côte d’Azur region, and other customers (in particular for mobility uses), as for 2025. It will be one of the largest renewable hydrogen production sites in France.

Racine assisted TotalEnergies and Engie during the whole procedure for State aid and merger control aspects.

Racine’s team was led by Bastien Thomas, partner, assisted by François Aubin, Cécilia Pataut and Lisa Ménétrier, associates.

The IPCEI in a few words

When private initiatives for innovation cannot materialise because of the high risks involved in such projects, the IPCEI communication of the Commission allows Member States to jointly fill the gap to overcome these market failures and stimulate the implementation of innovative projects that would otherwise not have been possible.