ESSEN (dpa-AFX) - RWE AG (RWEOY.PK), a German energy firm, said on Monday that the rules around hydrogen criteria in the European Commission's New Delegated Act will delay the ongoing efforts to boost hydrogen production in Europe.
The EU's proposed rules have come at a time when Europe requires more green energy gases to achieve climate targets and more energy independence from Russia.
The delegated act states that, following a short transitional period, by 2026 it will be permissible to use only electricity from newly constructed, unsubsidized wind and solar plants to generate green hydrogen.
'Even if planning and approval processes for new wind and solar power plants are to be accelerated in future, this would mean that it would not be possible to produce green hydrogen in large volumes before 2030,' the company said in a statement.
The company noted that the proposed regulations have come at a time when RWE and many other companies are prepared to invest billions of euros in making the switch to green hydrogen which requires sufficient volumes of green hydrogen on time at a reasonable price.
Therefore, RWE said it will actively engage in the upcoming consultation to urging the political leaders to review and revise the new criteria proposals.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX