News 26.06.2023

Industry-led hydrogen economy strategy for Finland published

By leveraging its competitive advantages, Finland aims to produce 3 million tons of hydrogen annually by 2035, generating €33 billion in new annual revenue.

Click here to read the strategy!

Finland holds a favourable position: the society is stable, infrastructure is well-planned, 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, Finland could produce over 14% of emission-free hydrogen in the EU. 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. Additionally, 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. It also defines practical measures to achieve the set objectives. Minister Mykkänen states that 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, and aiming for rapid and comprehensive adoption of carbon capture and utilization by the mid-2030s.

“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 hydrogen economy,” commented Kai Mykkänen, Minister of the Environment and Climate.

Hydrogen Cluster presentation from Vetyareena (in Finnish)
Strategy publishing presentation from Vetyareena (in Finnish)

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