The European Commission will this week launch its much-anticipated hydrogen bank to support the increase of renewable hydrogen in the EU's energy mix.
Mainly 800 million euros from European funds to help the hydrogen industry, while stimulating private investment.
Vigorously promoting green hydrogen is expected to play a key role in the EU decarbonization process, so as to achieve the emission reduction target by 2050.
"We want to make it clear that we are a global leader in the use of these new technologies." " [And] we can replace fossil fuels with green hydrogen, we can produce steel with a very low or no carbon footprint, and we can actually have cars, buses, trains, even planes and ships powered by green hydrogen," Maro Maroš Šefčovič, executive vice president of the European Commission, said in an interview on Monday. This will not cause pollution.
By 2022, hydrogen will account for less than 2% of the EU's energy consumption, mainly for the production of chemical products such as plastics and fertilizers. The
EU's top priority is to develop renewable hydrogen, aiming to produce 10 million tons by 2030 and import another 10 million tons. The industry will work to strengthen ties between the European Commission, policymakers, researchers and industry during the European Union's Hydrogen Week, which begins in Brussels, Germany, on
Monday.
"The energy crisis that Europe has faced so far, especially due to Russia's invasion of Ukraine, has shown the extent of our dependence.". Hydrogen can be produced in Europe, mainly in countries with a lot of wind and solar energy, "Chatzimarkakis, chief executive of Djorgo Hydrogen Europe, told European media." Therefore, Spain, Ireland or Denmark are perfect countries to produce hydrogen.
"But to be honest, we also need to import hydrogen, which is why we are very happy to welcome South Africa, Brazil and Saudi Arabia here."
At present, there is still work to be done on infrastructure and investment, but some projects are already under way.
Among them, Germany has asked Britain to consider building a 400-mile hydrogen pipeline in the North Sea, and an underwater pipeline is being prepared between Spain and France to transport green hydrogen.
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