EU bets on green hydrogen – €3 billion investment

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In recent weeks, the European Union has focused intensively on developing hydrogen production technologies from renewable energy sources. Recognizing green hydrogen as a key element in the pursuit of a sustainable energy future, Brussels announced a €3 billion investment in the sector. These measures aim to accelerate the transition to clean energy and respond to global climate challenges.

First auction of European hydrogen bank

At the end of November this year. The European Commission has launched the first auction under the European Hydrogen Bank, aiming to support the production of hydrogen from renewable sources. The goal of this initiative is to increase the production of green hydrogen, which is crucial to the course of decarbonization of heavy industry and transportation. Under the auction, renewable hydrogen producers could apply for support in the form of a fixed premium for each kilogram of hydrogen produced to make up the difference between production costs and the market price.

3 billion euros for green hydrogen

During EU H2 Hydrogen Week, Ursula von der Leyen, announced a second auction of the European Hydrogen Bank next spring with a budget of €2.2 billion. Including the first auction, the total budget will be €3 billion. The first winning projects are expected to be selected early in the second quarter of 2024. In addition, support was announced for the construction of a 10 GW green hydrogen plant in Brazil as part of the Global Gateway investment.

In this way, the European Union has been consistent in its support of the green fuels sector, as was already emphasized in the 2022 State of the Union address. These actions demonstrate a long-term commitment to Europe’s energy and environmental transition, as well as a testament to the European Union’s growing role as a leader in global climate protection efforts.

Poland at the center of hydrogen innovation

European Energy, which is one of the leaders in the energy industry, is highlighting Poland as a potential key player in green hydrogen production in the European Union. Thanks to its strategic geographic location and investment in renewable energy sources, Poland has significant potential to use its natural resources to produce hydrogen.

Green hydrogen, produced from renewable sources such as wind and solar power, is a promising pathway to carbon neutrality. Poland, with its booming renewable energy sector, has a unique opportunity to use these resources to produce clean hydrogen. This direction not only enables a step toward a sustainable future, but also opens up opportunities to strengthen energy security and economic stability.

Challenges and opportunities for Poland

Despite the many opportunities, Poland faces a number of challenges in implementing hydrogen technology. These include the need to build adequate infrastructure, ensure access to clean energy sources, and transform existing energy systems. However, with the right investment plans, Poland can turn these challenges into opportunities for growth. From a study by Dr. Gregory Tachorek shows that demand for hydrogen by 2030. can be as high as 250,000. tone. To meet this demand, investment will be needed in photovoltaic sources of about 10 GW, 5 GW onshore, or 3 GW of offshore wind power.

It is estimated that the cost of these investments will be 32-41 billion zlotys over the next six years. It therefore becomes crucial to attract investment capital, which is essential for the development of the hydrogen sector in the country. Poland’s attractiveness to investors, developers and supply chain suppliers is critical to meet the growing demand for green hydrogen and strengthen the country’s position as a leader in this field. These investments will benefit local communities, creating new jobs and increasing revenue for municipal budgets. Infrastructure and grid development, as well as new installations of renewable energy projects, will have a positive impact on the green fuel economy.

Leveraging EU investments for Poland’s sustainable future

European Union investments in green hydrogen are opening new horizons for Poland in the field of sustainable energy. With proper use of these funds, Poland can not only reduce itsCO2 emissions, but also become a leader in the production and use of green hydrogen. This is a step toward a green future that will benefit both the environment and the economy.

Source: European Energy press release

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