Investment resource allocation details
The investment plan is divided into two main parts:
3,2 billion euros:
- 2,4 billion euros support the development of Net Zero technology, including:
- Renewable energy.
- Energy storage.
- Heat pump technology.
- Clean hydrogen production.
- 1 billion euros: For electric vehicle battery production.
- 2,4 billion euros support the development of Net Zero technology, including:
1,2 billion euros: Accelerating renewable hydrogen production through European Hydrogen Bank.
Funding from the EU ETS and innovation fund
Investments are taken from Innovation Fund, the main source of capital is EU Emissions Trading System (EU ETS). This is a carbon pricing mechanism applied since 2005, aiming to reduce emissions in large industries.
- Revenue forecast: EU ETS will generate approx. 40 billion euros from September 2020 to October 2030, XNUMX.
- The Role of the Innovation Fund: As one of the world's largest funding programmes for Net Zero technologies, the Innovation Fund plays a central role in the EU's Green Industry Plan.
European Hydrogen Bank promotes renewable hydrogen
Released in 2023, European Hydrogen Bank provide a fixed subsidy for each kg of renewable hydrogen produced for 10 years. This is a key initiative to:
- Accelerating the scale of clean hydrogen production.
- Reduce costs and increase competitiveness.
New criteria towards autonomy and reduced dependence
The investment plan focuses on:
- Reduce dependence on China in the field of clean technology components and equipment.
- Strengthening supply chain resilience, to strengthen Europe's industrial position.
Statement from EU leaders
Wopke Hoekstra, Commissioner for Climate and Net Zero, said:
“We are delivering on our commitment to invest €4,6 billion in cutting-edge European technology projects in the areas of Net Zero, electric vehicle batteries and renewable hydrogen.”
Vice President Teresa Ribera Rodríguez emphasized:
“With over €4,5 billion invested in clean technology, the EU affirms its commitment to decarbonisation, supports industry to increase competitiveness and promotes strategic autonomy.”
The plan has global strategic significance
The investment not only helps the EU achieve its climate neutrality goals, but also:
- Strengthening Europe's position in clean technology.
- Reduce dependence on external resources.
- Laying the foundation for a sustainable, self-reliant and competitive future.
Conclusion
With an investment of €4,6 billion, the European Commission reaffirms its strong commitment to the energy transition. This is an important step to promote clean technology, reduce emissions and ensure the sustainable development of European industry.