The European Union has confirmed its intention to supply 20 million tons of hydrogen per year by 2030, the implementation of which requires at least € 84 billion in investments over the next 7 years.
This was announced by Tim Hard, senior vice president of energy transition at Argus Media on LinkedIn.
He explained that electrolyzers will require about 60% of these funds to convert water into hydrogen and oxygen.
The EU plans to double the number of so-called "hydrogen valleys", ie areas with a high density of hydrogen consumers, which form a cluster of demand, as well as to subsidize the transition from fossil fuels through contracts for difference (CFD).
"These CFDs will be funded by increasing revenues from the Emissions Trading Scheme," Hard said.
The EU has also made it a priority to create import corridors, as half of the required amount of hydrogen will come through imports.
In addition, hydrogen infrastructure is also the focus of additional EU investment recommendations € 210 billion.
We will remind, the EU will introduce carbon contracts for transition from "gray" to "green" hydrogen.
As EcoPolitika previously reported, EUROFER, referring to the Energy Manifesto of the European steel industry, said that the EU should ensure energy supply and accelerate hydrogen infrastructure.