Berlin earmarks 16 bln euro for new gas-hydrogen power plant subsidies - sources

German state support for companies to build and operate future hydrogen-ready gas power plants will total around 16 billion euros ($17 billion), including capital and operating subsidies, two coalition sources told Reuters on Monday.

Berlin on Monday announced agreements to subsidise gas power plants that can switch to hydrogen as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation. ($1 = 0.9307 euros)