The Finnish government has set out a new strategy to become “a powerhouse of clean energy” based on a hydrogen economy.
According to the strategy, Finland’s grid electricity is clean and the price is competitive in Europe; there is a favourable ratio of wind and solar power; and there is immense potential for developing both.
By 2030, the country could produce over 14% of emission-free hydrogen in the EU, the report states.
A hydrogen economy will contribute to Finland’s well-being by reducing dependence on imports in various industrial sectors, thereby strengthening self-sufficiency and energy security, the report adds.
Additionally, a hydrogen economy has the potential to create up to 115,000 new jobs by 2035.
The strategy has been developed in collaboration with officials, industry unions, and companies involved in the entire hydrogen value chain.
Achieving the set goals requires seamless and agile cooperation across industries, according to the government.
It also defines practical measures to achieve the set objectives.
Minister of the Environment and Climate Kai Mykkänen states the newly formed government also intends to promote hydrogen economy in practise by expediting and streamlining permitting processes, creating incentives for diverse electricity production growth.
It is also aiming for rapid and comprehensive adoption of carbon capture and utilization by the mid-2030s.
Mykkänen said: “The new government program is based on Finland becoming a powerhouse of clean energy.
“It is the most important industrial and climate action of the decade, and it is based on a hydrogen economy.
“Finland needs to define which opportunities we want to focus on to genuinely leverage the unique opportunity to position Finland as a pioneer in Europe’s hydrogen economy.”