European Green Hydrogen Soon at Oil Price?

green

Green hydrogen could gradually replace the use of fossil fuels in the coming years, especially in Europe. To this end, a group of 30 energy manufacturers, pioneers in Europe, are launching HyDeal Ambition. This project prefigures the future European hydrogen industry, which will be totally clean at 1.5 €/kg, including transport and storage, by 2030.

Green hydrogen at the price of fossil energy

1.5€/kg of hydrogen by 2030

Green hydrogen should be sold at 1.5€/kg by 2030 in Europe. This is the objective set by 30 European manufacturers in the framework of the HyDeal Ambition project. It is a price equivalent to fossil fuels that makes the transition to a decarbonized economy viable.

3.6 million tons of hydrogen per year by 2030

Green” hydrogen is produced from the electrolysis of water using renewable energy. Within the framework of the HyDeal Ambition project, this energy should come from the solar energy of the Iberian Peninsula. Production is expected to begin as early as 2022.

By 2030, installed capacity is expected to be 95 GW of solar and 67 GW of electrolysers. This would provide 3.6 million tons of hydrogen per year, or the energy equivalent of one and a half months of oil consumption in France.

Competitive renewable-based hydrogen

30 industrialists and companies gathered

Thierry Lepercq, spokesman for the industrialists’ collective, states:

“HyDeal Ambition constitutes a complete industrial ecosystem from upstream to downstream of the sector, validated today by several years of research, analysis, modeling, feasibility studies and contractual design.”

The project brings together a multitude of European actors. These include solar project developers, electrolyser producers and assembly groups. But also gas transport and storage operators. Or energy companies, industrial groups. Finally, infrastructure funds and consulting experts.

Several European hydrogen projects in progress

Several industrial projects are being launched with a first concrete initiative in Spain within a year. With this project, Europe could well become a central player in green hydrogen in the coming years.

This would effectively meet part of the new hydrogen strategy put in place by the European Union in July 2020. This strategy aims, for example, to deploy 40 GW of electrolysis power. Also, to produce 10 million tons of green hydrogen by 2030.

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