“We are living in challenging times. If, on the one hand, economic and social recovery are the immediate priority, on the other, we cannot ignore the threat that climate change poses to society”, João Pedro Matos Fernandes, Portuguese Minister for the Environment and Climate Action, emphasised at the opening of the High-Level Conference on “Hydrogen in Society - Bridging the gaps”, which is taking place today in the context of the Portuguese Presidency of the Council of the European Union.
Regarding Europe’s goals for the environment, the Minister recalled that “achieving carbon neutrality in Europe by 2050 and a reduction of at least 55% in greenhouse gas emissions by 2030 requires profound changes in our energy system and a firm commitment to an energy transition supported by the deployment of renewable energy”.
João Pedro Matos Fernandes, signed in Lisbon a Memorandum of Understanding (MoU) during the High Level Conference “
Hydrogen in Society - Bridging the Gaps”, organised by the Portuguese Presidency of the Council of the European Union.. The proposed MoU is a non-binding agreement aimed at fostering cooperation between the two entities in the sector.
The hydrogen sector will play an important role in accelerating the energy transition, as outlined in the European Hydrogen Strategy launched by the European Commission in 2020, which aims at building a whole hydrogen ecosystem for a climate-neutral Europe by installing 40GW of green hydrogen capacity by 2030. Thanks to the MoU signed today, the EIB will support Portugal’s ambitious environmental objectives set in the 2030 National Energy and Climate Plan, also known as PNEC 2030, and in the 2050 Carbon Neutral Roadmap for Portugal (RNC2050).
In the second part of the High-Level Conference on “Hydrogen in Society - Bridging the gaps”, held in Lisbon today, 7 April, the subjects of funding and industrial clusters were discussed. During the last panel, concrete cases of the adoption of hydrogen as fuel in different industrial sectors were also discussed.
Roland Schulze, Managerial Adviser of Low Carbon Energy Technology at the European Investment Bank, highlighted the increasing importance of sustainability in project analysis. “Until very recently, funding was only analysed in terms of feasibility, costs and expected revenue”, the specialist pointed out.
Glenn Llewellyn, Vice-President of Zero Emission Aircraft at Airbus, noted the importance of hydrogen being made available at airports at a fair price. “During this decade, we must work so that more and more hydrogen is available at airports”, he stressed.
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th April) joining forces to develop a hydrogen economy in the country.
EIB and the Portuguese Government formalised the pledge by signing a Memorandum of Understanding (MoU) during the
Hydrogen in Society – Bridging the Gaps conference, organised by the Portuguese Presidency of the Council of the European Union.
With the signing of such MoU, Portugal will now play and important role in accelerating the energy transition, as outlined in the European Hydrogen Strategy. Further to this, the agreement will support Portugal’s ambitious environmental objectives set in the 2030 National Energy and Climate Plan.
“I am delighted to sign today this important agreement with the Portuguese Government that aims to accelerate investments in the hydrogen sector in Portugal, said Ricardo Mourinho Félix, EIB’s Vice-President, responsible for the bank’s operations in Portugal.