Hydrogen was positioned as pivotal in Europe’s decarbonisation strategy, with ambitious 2030 production targets set in early policy roadmaps. Substantial funding commitments followed, with €32.9 billion allocated or announced in 4Q 2024 alone to support hydrogen production and infrastructure.
However, progress has lagged due to regulatory hurdles and delays, high costs, economic challenges, and weak demand for hydrogen. As a result, approximately 20% of the European hydrogen – comprising 23 projects with a combined capacity of 29.2 GW(LHV) – has been either cancelled or stalled.
The question is, how much can realistically be achieved in the European hydrogen market?
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