The European Commission has initiated work on a pilot mechanism to support the hydrogen market, as part of the recently adopted decarbonized gases and hydrogen package. This mechanism aims to enhance investment clarity by providing detailed market data and facilitating connections between off-takers and suppliers of renewable and low-carbon hydrogen.
A procurement process is underway to develop an IT platform for the mechanism, with operations expected to begin by mid-2025. The next step are to large-scale electrolysers are under construction in Europe, and initial off-take agreements have been signed.
The EU has established a comprehensive framework to support the hydrogen market, including the Decarbonized Gases and Hydrogen package, and revisions to the Renewable Energy Directive. These frameworks set market rules and targets for renewable hydrogen, ensuring legal certainty and visibility for investors.
The EU has listed several hydrogen corridors and projects in the revised TEN-E Regulation, supporting infrastructure development. Additionally, the European Hydrogen Bank has facilitated significant investments in hydrogen projects, with plans for further auctions and international cooperation.
The pilot mechanism is part of the EU’s strategic efforts to establish a robust hydrogen market, crucial for achieving sustainability goals and enhancing industrial competitiveness.
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