2024-07-20 05:13:08
The European Commission has achieved partial success in creating the necessary conditions for the emerging hydrogen market and its associated value chain. This is the conclusion of the European Court of Auditors (ECA), which published a special report “EU industrial policy on hydrogen from renewable sources: most of the legal framework is in place – time to check the real situation”. The report was prepared under the leadership of Stef Blok, a member of the ECA, the Bulgarian Chamber of Commerce and Industry announced on its website.
The main part of the legal framework has been adopted, but a number of challenges remain, according to the European Court of Auditors. One of the main recommendations of the ECJ is that future strategic choices should be based on an examination of the actual situation without creating new strategic dependencies.
The European Commission has set in motion the creation of a hydrogen market from renewable sources in the EU with the adoption of the Hydrogen Deployment Strategy and the REPowerEU Plan, which includes targets for hydrogen production and imports. Hydrogen from renewable sources is one way to decarbonize, especially in industrial sectors where this is difficult to achieve. Total EU funding for the period 2021-2027 for hydrogen-related projects is estimated at €18.8 billion.