Renewable Hydrogen Coalition’s Post

Renewable Hydrogen Coalition CEOs Urge New EU Leaders for Immediate Actions to Scale UP Renewable Hydrogen Tomorrow, Member States will meet to appoint the next President of the European Commission, to be confirmed by the newly elected European Parliament. With its European #GreenDeal, the current Commission played a crucial role in supporting the nascent renewable hydrogen industry, bringing much needed regulatory certainty and strong targets for its uptake in hard-to-electrify sectors. However, the journey is far from over. The cost of renewable hydrogen is still too high compared to incumbents, and the European electrolyser industry faces unfair competition from other global powers, threatening its ability to thrive in Europe. The new European Parliament and the next Commission President should stay the course and focus on delivering the Green Deal as Europe's growth strategy, with international competitiveness of the European industry at its core. This is why CEOs of leading European companies have united to urge policymakers to account the following as priorities: 1️⃣ Set strong EU funding to massively scale up renewable hydrogen production and bring its cost down. 2️⃣ Adopt a robust European industrial strategy to build a competitive and resilient value chain in Europe as a matter of strategic industrial autonomy and security. The future of our industry depends on it. Policymakers, the time to act is now! Learn more in our Manifesto: https://lnkd.in/eUsq6h4H

Political groups in the European Parliament are unveiling their priorities for the upcoming legislative term. A common focus has emerged: boosting the competitiveness of Europe's industry through a strong industrial policy that promotes European manufacturing standards, bringing wealth and quality jobs across the continent. This priority is especially significant for the European #electrolyser industry. Europe has been at the forefront of developing cutting-edge electrolyser technologies, supported by billions in public funding for research, development, and demonstration. As a result, today nine out of the fifteen leading global electrolyser manufacturers are based in Europe. But this leadership is now at risk. To maintain its position in this strategic sector, Europe must strengthen its manufacturing capabilities and protect its single market against unfair competition. Explore François Paquet's insights on the vital steps needed to build a resilient, homegrown renewable hydrogen industry ⤵ https://lnkd.in/e-7R6QhF

Yesterday, a delegation of CEOs from the Renewable Hydrogen Coalition met with European Commission Executive Vice-President Maroš Šefčovič to discuss key issues including the Hydrogen Bank and the European industry's competitiveness. What is the outcome of this discussion? 1️⃣ The need for a global level playing field to maintain and strengthen a resilient value chain in Europe. Introducing a resilience criterion on electrolyser sourcing in the European #HydrogenBank second auction is key. EVP Maroš Šefčovič acknowledged this, stating that as competition dynamics have shifted, so should the rules. 2️⃣ Real success means projects built in Europe. While the results of the Hydrogen Bank's first pilot auction show a dynamic market in Europe, low subsidy bids do not mean low renewable hydrogen production cost. The green premium remains high for offtakers in hard-to-electrify sectors to commit to large-scale investments over ten years. 3️⃣ Bridging the cost gap between renewable hydrogen and conventional incumbents is a must if Europe wants to scale-up. The European #HydrogenBank is the right tool for this, but its limited budget calls for relaxing temporarily cumulation rules to close this gap. Decisive action is required. Now is the time to stay the course, deliver the #GreenDeal, and make it a true industrial growth strategy for Europe, with international competitiveness at its core. Read more in our manifesto here: https://lnkd.in/eUsq6h4H Thank you again, EVP Maroš Šefčovič, for welcoming our delegation of CEOs: Olivia Breese (Ørsted), Dr. Sopna Sury (RWE), Ana Quelhas (EDP Renewables), Håkon Volldal (Nel Hydrogen), Peter Friis (Green Hydrogen Systems) and Kim Hedegaard (Topsoe).

📢 Alongside 39 investors, industry associations, researchers, and NGOs, we urge the European Investment Bank (EIB) to extend public #guarantees to strategic clean technologies, including #electrolysers. This Friday, the EIB Board of Governors will approve its new Strategic Roadmap for 2024-2027. It is crucial that they include the expansion of public guarantees (for both manufacturing and loans) to strategic cleantech sectors to boost manufacturing capacity. Here's why 👇 💰 Many cleantech sectors in Europe are under pressure due to the substantial investments made by other global players. Without a targeted solution, European manufacturers and supply chains will lose their competitive edge, undermining Europe’s industrial base. ⚡ By transferring risk from commercial banks to the EIB's balance sheet and the European budget, European banks can establish new guarantee lines for cleantech projects and promote bank lending to cleantech manufacturing. 👷♀️ Guarantees are essential to scale-up Europe's cleantech manufacturing significantly, reinforce the global competitiveness of EU green industry and secure Europe’s energy transition and resilience.  Read our joint letter ⤵

📣 Together with over 400 cross-sector organisations, we call on EU leaders to confirm the Green Deal as a strategic priority in the next EU mandate.   The EU Green Deal is the foundation of a competitive, secure, modern and efficient Europe.   🤝 Together, signatories from across the economy, remind EU leaders that delivering the EU Green Deal is the best strategy for securing Europe's competitiveness and prosperity, providing much-needed clarity and stability to Europe's businesses and citizens.   Let’s not gamble on our future, let’s build it.    Read the full joint statement here 👉  https://lnkd.in/ePbQtgEe #GreenDealforEU