Chamber of Commerce concerned about hydrogen and storage projects
Following the Federal Constitutional Court's budget ruling, the Chamber of Commerce has expressed concern about the possible consequences for Hamburg's economy. "Pioneering Hamburg projects in the field of hydrogen and energy storage are now at risk of being delayed or failing completely," said Chief Executive Malte Heyne on Sunday. "This would massively jeopardize the development of the northern German location and its significance for fossil-free energy throughout Germany."
The judge's ruling has made it clear that the federal government must set priorities, said Heyne. "The focus must be on investments." They guaranteed the tax revenues of tomorrow. "It is good that the federal government is working intensively on solutions, because companies now need clarity as quickly as possible so that they can invest."
As previously reported by the "Hamburger Abendblatt" newspaper, citing the economic authorities, the planned construction of a large-scale electrolyser for green hydrogen in Hamburg-Moorburg is also at risk. A spokesperson for the authorities told the newspaper that promised federal funding is only secured if a legally valid funding decision has been made - which is not the case for the electrolyser. According to the paper, federal funding for the construction of a hydrogen-based plant for steel production at steel manufacturer ArcelorMittal is also unclear.
The Chamber of Commerce fears that the Federal Constitutional Court's budget ruling might affect the financing of crucial household and industry-related projects in Hamburg, such as hydrogen and energy storage. In light of the court's decision, the federal government needs to prioritize investments in these ventures, as they are vital for securing future tax revenues and promoting climate-friendly industry growth nationwide.
Source: www.dpa.com
