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Net Zero Industry Act published by the Commission

On 16 March 2023 the European Commission published its Proposal for the Net Zero Industry Act. The aim of the Proposal is to strengthen the resilience and competitiveness of net-zero technologies manufacturing in the EU, and make energy system more secure and sustainable. It is expected to create better conditions to set up net-zero projects in Europe and attract investments, with the aim that the Union’s overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40% of the Union’s deployment needs by 2030.

Strategic net zero technologies identified in the Proposal include: solar photovoltaic and solar thermal technologies, onshore wind and offshore renewable technologies, battery/storage technologies, heat pumps, electrolysers etc.

The legislative proposal is available here and the press release of the Commission with more information can be found here.

Together with the Net Zero Industry Act the European Commission published on 16 March 2023 a Communication on the European Hydrogen Bank.

The European Hydrogen Bank aims to unlock private investments in hydrogen value chains in the EU and in third countries by connecting renewable hydrogen supply with the emerging demand by European off-takers and thus to establish an initial market for renewable hydrogen. The Bank will promote the production of renewable hydrogen domestically as well as imports from international producers to European consumers.

More information can be found here

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