The Europe Clean Industrial Deal, released yesterday, aims to “turn the tide” in the production of clean energy, according to the European Commission President Ursula von der Leyen.
She said the European Union is already in a good place, producing a quarter of all clean tech patents in the world – more than both the US and China – as well as 30% of electrolysers and 20% of carbon capture and storage technology.
Addressing delegates at the European Industry Summit in Antwerp, von der Leyen said final investment decisions (FID) on electrolysers in Europe have quadrupled in a year, and it has seen the fastest growth worldwide – though that strong performance belies the reality of an industry that is hampered by ongoing regulatory, financial and project delivery challenges.
With the new US administration advocating a fossil-fuel-first strategy, Europe has an opportunity to cement its clean energy credentials while continuing to grapple with the commercial realities relating to production and scaling. The President referred to four make-or-break areas in particular which will determine whether Europe’s clean industry sector can succeed.
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