Cross Border Hydrogen Value Chain | BeNeLux
EUROPE IS ACCELERATING ITS TRANSITION TOWARDS A GREEN HYDROGEN INCLUSIVE ECONOMY. The recent geopolitical and energy market volatilities require us to drastically accelerate the clean energy transition and increase Europe’s energy independence from fossil fuels. REPowerEU is the European Commission’s plan to make Europe independent from Russian fossil fuels by 2030, in light of Russia’s invasion of Ukraine. In this package, next to accelerating the production of renewable electricity, there is emphasis on accelerating the production of green hydrogen, which is expected to be produced from renewable electricity. Accordingly, amongst other measures, REPowerEU has announced an ambition to reach an additional 15 million tons (Mt) of renewable hydrogen on top of the 5.6 Mt foreseen under Fit for 55 plan, going beyond the targets of the EU’s hydrogen strategy1 . The REPowerEU sets a target of 10 million tons of domestic renewable hydrogen production and 10 million tons of renewable hydrogen imports by 2030. Meeting these targets will require a rapid acceleration of the development of hydrogen demand market, production, infrastructure, storage facilities and import. Moreover, the supporting and facilitating policy and legislation need to be in place in no time otherwise meeting the targets cannot be realized.