H2Tech Market Data 2024 - 14

the EU's FuelEU Maritime law calls for the shipping
sector to increase green e-fuels to 2% by 2034 and
to cut GHG emissions by 2% below 2020 levels by
2025, 14.5% by 2035 and 8% by 2050-this law
applies to vessels above 5,000 t.
To help unlock both public and private investments, the
EU has also initiated important projects of common European
interest (IPCEI). This cross-border initiative will help
provide funding to build a H2
value chain in the EU. At the
time of this publication, two IPCEI initiatives-Hy2Tech and
Hy2Use-have been awarded funding. These two initiatives
will provide more than €10.5 B in funding to more than 75
projects in 16 EU nations. Hy2Tech and Hy2Use are expected
to secure nearly €16 B in private investments, as well.22
Lastly, to move vast amounts of H2
around the EU,
an intricate supply network is needed in the region. To
supply demand centers with H2
, the European Hydrogen
Backbone (EHB) initiative has been implemented
(FIG. 11). This capital-intensive program includes more than
30 energy infrastructure operators across northern, central
and southern Europe. By 2040, the EHB is expected
to traverse approximately 53,000 km at a total cost of
€80 B-€143 B.23
This includes onshore and offshore pipelines
to deliver H2 to various demand centers in the EU for
domestic/regional use.
Country analysis. At the time of this publication, the
GEI database was tracking nearly 690 active H2
projects
in Western Europe. At 24%, the UK holds the largest market
share in active H2
Germany (16%). A breakdown of active H2
projects in the region, followed by
project market
share in Western Europe is detailed in FIG. 12. The following
are notable active projects and initiatives being developed
in Western Europe.
France. In 2020, France unveiled its H2
strategy, which
called for 6.5 GW of electrolysis capacity to be installed
in the nation by 2030. However, in 2022, the French government
announced plans to unveil a new H2
will emphasize the use of green H2
strategy that
to decarbonize hardto-abate
industries such as aviation, cement and steel production
(e.g., GravitHy's €2.2-B, 2-MMtpy green steel plant
and the Power4Steel program), long-haul transport (e.g.,
FIG. 11. A map of the EHB in 2040. Source: EHB.
14
MARKET DATA 2024
H2-Tech.com
https://globalenergyinfrastructure.com/ http://www.H2-Tech.com
H2Tech Market Data 2024

Table of Contents for the Digital Edition of H2Tech Market Data 2024
