Portuguese investments in resources such as lithium and hydrogen have a Community framework within their scope, namely combating climate change on the one hand and reducing dependence on fossil energy on the other. In this sense, the European Union has committed to climate goals, namely reducing CO2 emissions by 55% by 2030, in order to achieve neutrality by 2050. materials such as lithium and hydrogen.
Brussels estimates that demand for lithium will be twelve times greater than current levels by 2030. By 2050, the European Union will have to guarantee the availability of lithium “21 times” more than today, taking into account the growing need for lithium for batteries and other technologies essential for the energy transition.
The European Commission’s plans include calling for the reduction of dependence on imports through the “diversification of sources” of lithium for the community, “often concentrated in a single third country”.
Brussels’ other bet would be to set targets to increase extraction to guarantee “at least 10% of annual EU consumption” and boost lithium processing to guarantee “at least 40% of annual EU consumption”. to guarantee.
The European Commission’s strategy also foresees the promotion of lithium recycling, “with the aim of reaching at least 15% of the EU’s annual consumption”. These objectives must be achieved by 2030.
In addition to the initiatives, Brussels defends the promotion of the “sustainability and circularity” of lithium in the European market, and rules should be defined on lithium’s ecological footprint.
Hydrogen
In 2020, the Council of the European Union recognized that the hydrogen market in the EU needs to be “significantly expanded” to become “competitive”. The roadmap approved by Member States includes ensuring the installation, in the European space, of a capacity of “at least 6 gigawatts of renewable hydrogen electrolysis by 2024 and 40 gigawatts by 2030”.
The European Commission estimates that total investments in renewable hydrogen in Europe will amount to between 180 and 470 billion euros in 2050.
Combined with the renewable energy sector, “the hydrogen value chain (…) could directly or indirectly employ up to one million people”. The European Union would have the capacity to “satisfy 24% of global energy demand” through clean hydrogen “with an annual turnover of approximately 630 billion euros”.
Correspondent in Brussels
Source: DN
