Research Report : Enverus Intelligence® Vault – Figure 8
As global political tensions escalate, Europe is undertaking a crucial balancing act – meeting ambitious decarbonization targets while ensuring its energy security. To bridge this gap, the EU has crafted a strategic plan that leverages local resources and renewable power to reduce its reliance on Russian natural gas. Recognizing that renewables alone cannot meet all industrial or baseload power needs, the continent aims to produce 10 mtpa of clean hydrogen and import an additional 10 mtpa by 2030, with a focus on green hydrogen given its lower carbon intensity.
This requires a monumental effort to coordinate massive-scale renewable energy development, clean hydrogen production and infrastructure construction to service all EU nations. The plan aims for 1.1 TW of renewable energy capacity, a 2.3x increase from 2022 levels (Figure 1). The production of 10 mtpa of green hydrogen domestically would require 22% of the EU’s planned 2030 renewable capacity, significantly impacting the electricity available to the grid.
Highlights from Energy Transition Research:
- ET Market Tracker – Multiple Rerating for Data Center-Adjacent Power Producers – The 1Q24 edition of the ETR team’s equity tracking report provides coverage across various energy transition sectors as well as integrated traditional energy businesses.
- Surfing the Green Wave – Hydrogen in Europe – This report delves into the impact of policy frameworks propelling Europe’s clean hydrogen evolution while scrutinizing the ramifications of potential shortfalls in meeting 2030 green hydrogen targets. We assess the production dynamics and demand drivers of green hydrogen, alongside an evaluation of transmission networks and import strategies, and juxtapose costs to unveil the economic viability of green hydrogen against conventional fuels.
- Battery Storage – Best Practices for Investment, Siting and Development – This presentation ranks the most attractive regions for battery storage developers looking to enter or expand in the U.S. market.
