Netherlands unveils EUR-28bn climate package incl hydrogen funding

The Netherlands last week unveiled a EUR 28 billion (USD 30.9bn) package to achieve its climate goals in 2030, including EUR 7.5 billion in funding for hydrogen.

"The Netherlands has for years been lagging behind in meeting its climate goals. Now it's time to take a big leap forward,” said climate and energy minister Rob Jetten.

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The measures are expected to meet the target of reducing carbon dioxide (CO2) emissions by 55%-60% in 2030 compared to 1990.

The package includes measures to make the electricity sector carbon-free in 2035 such as building 3 GW offshore solar by 2030, converting gas-fired power stations to hydrogen and making batteries obligatory for solar parks.

The funding earmarked for hydrogen includes about EUR 5.1 billion for onshore electrolysis and close to EUR 1.8 billion for offshore capacity. The plans further envisage EUR 50 million for an offshore hydrogen network, EUR 300 million for green hydrogen imports through H2Global and EUR 250 million for derisking large-scale hydrogen storage.

(EUR 1 = USD 1.104)