Investments of EUR 3.5 billion needed
throughout Europe by 2020
To supply 1.9 million cars in Germany
will require EUR 870 million
Tax exemption for hydrogen would
be constructive step
Berlin- With a total value of about
EUR 3.5 billion, the cost of developing a hydrogen infrastructure in Europe
by the year 2020 is significantly lower than previously believed. That
is the conclusion of a study of the economic feasibility of a hydrogen
infrastructure presented today in Berlin by the Linde technology group
as part of "International Hydrogen Day."
"The results of this study are a
clear signal to us," declared Dr. Wolfgang Reitzle, President and CEO of
Linde AG. "A transition to the hydrogen economy is feasible."
The study, ordered by Linde and
conducted by corporate consulting firm e4tech, which specializes in energy
questions, and the Imperial College, London, describes a total of 12 different
scenarios for the production and distribution of hydrogen for automobiles.
Author David Hart based the calculation of the infrastructure costs on
an initial phase of approximately 6.1 million hydrogen cars throughout
Europe by 2020, which would necessitate a network of about 2,800 filling
stations. Based on Germany, the infrastructure to supply 1.9 million cars
with the eco-friendly fuel hydrogen would cost EUR 870 million.
These costs are manageable compared
to other investments in the overall infrastructure systems. The cost of
the Trans-European Network for Transport (TEN-T) in the EU by 2020, for
example, is estimated at EUR 220 billion.
The current Linde study provides
for the infrastructure to be developed first in high-population areas of
Europe in order to ensure the greatest possible market access. The necessary
hydrogen production capacities and filling stations would be built up in
stages so that step by step all of the major population centers of Europe
would be included. The plan also provides for filling stations along the
main connecting highways so that long-distance driving would also be supported.
This would enable hydrogen access for approximately one third of the entire
EU population or 120 million people.
According to the study, centralized
hydrogen production would be more economical than decentralized generation
directly at the filling stations since in the latter case the investment
costs would rise more sharply as the number of hydrogen vehicles increased.
The study - the first publicly accessible
analysis of its kind - also runs through a cash flow calculation for hydrogen
producers and distributors in different EU countries in order to examine
the economic feasibility of various models. The result: For potential investors,
investments for the production and distribution of hydrogen can be calculated
- with regional differences - within 10 to 15 years - a time period that
is not unusual for projects of this magnitude.
Questions remain as far as the commitment
of the European governments to building a hydrogen infrastructure. Linde
CEO Reitzle: "A positive sign from the politicians would be important to
give investors and consumers a sense of security. For example, a tax exemption
for hydrogen until the year 2020 would be very beneficial to the success
of the hydrogen infrastructure."
Linde is an international technology
group that occupies the leading market positions in each of its two business
segments: Gas and Engineering and Material Handling. With approximately
41,000 employees worldwide, Linde has annual sales of about EUR 9 billion.
For more information:
Press
Uwe Wolfinger
Tel: +49 611 770 264
Investor Relations
Thomas Eisenlohr
Tel: +49 611 770 610
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