FNM to build Italy's first 'hydrogen valley' with trains from Alstom
26/11/2020 15:52
By Stephen Jewkes
MILAN, Nov 26 (Reuters) - Italian transport group FNM
FNMI.MI said on Thursday it would invest as much as 160
million euros ($190 million) to buy hydrogen-powered trains from
France's Alstom ALSO.PA as part of a plan to create Italy's
first "Hydrogen Valley".
In a joint statement on Thursday with railway unit Trenord,
FNM said it had approved the purchase of a first batch of six
trains that Trenord will run in the Val Camonica valley in the
north with an option to buy a further eight.
FNM, which owns 50% of Trenord, said it would also invest in
hydrogen production sites in the area which would, at first, be
used to fuel the trains.
Overall investments to create the hydrogen valley project,
including infrastructure work, would be between 250-300 million
euros ($298 million-$357 million), it said.
The move comes as the Italian government sets out plans for
a national hydrogen strategy, targeting investments in the
sector of around 10 billion euros.
Hydrogen today is too expensive for widespread use but as
costs fall, governments see it as a replacement for fossil fuel
in areas where electrification is not an easy solution.
Earlier this year, Alstom signed a deal with gas group Snam
SRG.MI to develop hydrogen trains in Italy, while Italy's
national railways (FS) agreed with Snam to study the use of
hydrogen in its network. urn:newsml:reuters.com:*:nL8N2DH28V urn:newsml:reuters.com:*:nL8N2HC3ET
FS, which owns almost 15% of FNM, controls 50% of Trenord
through one of its units.
($1 = 0.8402 euros)
(Reporting by Stephen Jewkes;
Editing by Bernadette Baum)
((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters
Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))