"Hydrogen as a gamechanger" in the State of the European Union
Yesterday marked an important day for the development of the green hydrogen market in the EU. In her annual “state of the union”. President of the European Commission Ursula vonder leyen announced the creation new European Hydrogen Bank that will be allocated 3 billion euro. This bank will facilitate the creation of a market for green hydrogen in the EU, by bridging the investment gap and connecting future supply and demand.
Later that day The European Parliament had an important vote on the Renewable Energy Directive. The Parliament decided on higher targets for the use of RFNBOs (hydrogen) in transport (5.7%) and industry (50%) by 2030. In industry this target will rise to 70% by 2035.
WaterstofNet welcomes these important announcements and will follow up on both developments in the coming weeks. Further advocacy actions will be discussed in the Policy Working Group.