EU Business reposted this
Yesterday I took part in the Renewable Hydrogen Summit organised by Renewable Hydrogen Coalition. The EU regulatory framework provides a clear signal for investors to help them take their investment decisions. It is now time to reinforce the offtake side of the equation, through the Industrial Accelerator Act, the Public Procurement legislation revision and the reinforcement of offtake drivers such as those addressed in the Sustainable Transport Investment Plan. Without an infrastructural backbone, achieving our targets for clean hydrogen supply and use in industry will not be achieved. Our H2Infra #IPCEI will help 2.500 km come online. We need to continue building towards full deployment, and the list of Projects of Common Interest (PCIs) and Projects of Mutual Interest (PMIs) published on 1 December provides a further step in the right direction. Clean #hydrogen is a nascent industry, and 50% of the cost of clean hydrogen is made up of electricity costs. So it is clear we need to continue supporting the production projects in the EU. The Clean Industrial Deal State Aid Framework, the Hydrogen Bank, the new Industrial Decarbonisation Bank are opening up new possibilities.