Monday, 15 June 2020
The European Commission is planning to hold 15 GW of renewable-energy tenders over the next two years at a cost of €25bn, according to a document revealing the EC COVID-19 related green economic stimulus plans.
The EU Commission plans on allocating €5-30bn to scale-up 1 million tonnes of clean hydrogen production by 2030 to be subsidised through a pilot Carbon Contracts for Difference (CCfD) scheme. The scheme would pay the difference between the CO2 strike price and actual CO2 price in the ETS to bridge the cost gap between conventional and decarbonised hydrogen.
An additional €10bn/year would be invested into clean electricity and hydrogen infrastructure, including offshore wind grid links, hydrogen and carbon-capture and storage infrastructure, as well as investment towards the adaptation of natural gas grids for low carbon gases. €1.3bn would go to the EU’s Clean Hydrogen Partnership programme, which aims to bring hydrogen-fueled trucks and shipping closer to commercial viability.
A longer-term European Hydrogen Strategy and Energy System Integration Strategy is due to be unveiled in June 2020.
(First published on Greenfact subscriber site 29 May 2020)