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2 July 2024 | News

How Nordic companies see the prospects for renewable hydrogen and e-fuels

In early summer, Ramboll conducted a survey in which 97 respondents from Sweden, Norway, Finland and Denmark provided answers about the greatest opportunities, obstacles and needs in their particular country - as well as the areas in which cooperation between the countries needs to be increased.

How Nordic companies see the prospects for renewable hydrogen and e-fuels

The survey shows a consensus in all countries surveyed on what is needed to grow the market for renewable hydrogen and e-fuels:

  • Financial support schemes
  • More renewable electricity
  • Development of electricity and hydrogen infrastructure

Regulatory and legislative frameworks are also needed to support market development.

On the question of which sector has the greatest potential to switch to hydrogen and e-fuels, there are two camps. Norwegian and Danish respondents indicate that the greatest potential is in shipping, while Swedish and Finnish respondents see the greatest potential in industry. This difference does not affect the desire for joint development. All see it as important that co-operation and partnerships are developed across the Nordic borders, particularly with regard to infrastructure and common regulations.

The biggest obstacles to market growth are the currently high production costs, which reduce competitiveness in relation to fossil fuels. The current investment climate makes it difficult to secure financing, which affects investment decisions.

When asked to provide advice to our newly elected MEPs, respondents suggested creating favourable market, regulatory and financial conditions.

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