EU Regulatory Framework almost complete says commission president10 Oct 2023 13:57
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Clean hydrogen shows that we can reconcile our economy with the health of our planet. And this is why we have put hydrogen at the heart of the European Green Deal. We have already set course on climate neutrality by 2050, with our legislative framework, Fit for 55.”
Now it is taking European Green Deal “to the next level”, with the first auctions of the Hydrogen Bank set to start next month, with projects backed by €800m funding.
“This auction system will reward the most innovative and competitive companies, which can produce hydrogen at the lowest cost. We will fill the gap between your production cost and the price that the market is currently willing to pay. And this will create a virtuous circle – where the hydrogen market scales up, and consumer prices go down.
“With NextGenerationEU and RepowerEU we are investing in hydrogen valleys, hydrogen trains, and clean-steel factories. In addition we have authorised over 17 billion euros in State Aid for 80 hydrogen projects across the EU.”
Clean hydrogen can go mainstream, the President added, which will create new jobs, new economies of scale, and new business opportunities in the European Commission.
“We are at the same time developing a global market for clean hydrogen,” she said. “We have already signed hydrogen partnerships with countries ranging from Egypt, Kenya and Namibia, to Latin American countries. They have immense potential.Resources of wind and sun or geothermal in abundance.
“They could produce clean energy, transform it into clean hydrogen, and then ship it to the world. And this is crucial, both to create a local net-zero economy, and to meet the rising hydrogen demand here in Europe. Europe wants to be the global hydrogen leader, not only as a pioneer, but as a partner.”
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