170 companies ask the Commission to keep the hydrogen targets

The Renewable Hydrogen Coalition reports that more than 170 companies and industry stakeholders across Europe's energy value chain signed a letter to Ursula von der Leyen, Teresa Ribera and Dan Jørgensen asking the European Commission to keep binding RFNBO targets for transport and industry beyond 2030.

Those targets sit in Directive (EU) 2023/2413. According to the European Clean Hydrogen Observatory, from 2030 42% of the hydrogen used in industry must be RFNBO, rising to 60% in 2035, with a binding 1% RFNBO sub-target in transport in 2030.

For a producer, a binding target is the closest thing to contracted demand before any contract exists. It signs no offtake, but it sets the size of the obligated buyer and the year the obligation starts. An electrolysis project without a final investment decision depends on that date to close financing.

The letter asks for the date to be kept, not for a subsidy. Hold the obligation beyond 2030 and revenue can be sized over a ten-year horizon, which is what unlocks an investment decision.