Hydrogen Europe Chief Policy Officer Daniel Fraile said 2023 would be a year of final investment decisions for the first major hydrogen projects in Europe once policy uncertainty was settled.

“With the Renewable Energy Directive expected to be done by mid-year, setting binding targets for the use of renewable fuels of non-biological origin in industry and possibly also in transport, hydrogen actors will have a much better view of the size and potential of the market,” Fraile told S&P Global.