Technology will drive 220-billion-euro investment in hydrogen | NTT DATA

Wed, 24 May 2023

Technology will drive 220-billion-euro investment in hydrogen

  • In a context of increasingly strict regulations on emissions reduction, hydrogen is one of the key technologies for the energy transition.
  • The technology consultancy helps companies to create and develop new business models, identify opportunities and support for the financing of projects in this energy vector.

Hydrogen is key to the energy transition in the current context, where socio-economic elements, together with the expectations of countries to move towards a more sustainable model, are shaking up the energy market.

This zero-carbon footprint element has become one of the most sustainable and effective energy options for achieving decarbonisation objectives and is gaining weight as a fuel source among industry and public administrations. The hydrogen market is growing with increased demand from various sectors such as transport and power generation. According to a report by the Hydrogen Council - an initiative launched at the World Economic Forum in Davos - 680 large-scale hydrogen projects have been submitted during 2022, with direct investment expected to reach 220 billion euros ($240 billion in US dollars) by 2030.

In this regard, NTT DATA has prepared the report "Hydrogen: The New Commodity Powering a Greener Economy", which analyses the state of hydrogen as part of the green economy towards which society wants to move. The company is working on projects that promote putting technology at the centre, driving the energy transition under business advice for the development of hydrogen production projects from renewable sources such as solar, wind or hydroelectric energy, known as green hydrogen. All this contributes to accelerate the development of a mature market, aligned with the country-strategy and the EU's restrictive policies on emissions.

According to NTT DATA experts, hydrogen is a key factor for the energy transition and is already becoming a reality at different levels in all organisations. We have extensive experience and can be a reference partner thanks to our expertise in the energy industry, working with the main organisations in the value chain, which allows us to contribute to the transition towards the use of cleaner energy.

Europe is considered a global leader in the development of hydrogen. Strict emission reduction regulations have made this energy vector one of the key technologies for the energy transition. This means the opening of new markets and promising commercial opportunities, which, in turn, attract investments from specialised venture capital funds and established energy companies.


In October 2021, Belgium adopted its first hydrogen strategy which is based on 4 pillars: positioning itself as an import and transit hub in Europe for renewable molecules, maintaining its leadership in hydrogen technologies, establishing a robust European hydrogen market and investing in international cooperation to secure supply.

With the current energy crisis, strategic storage, import diversification and energy system efficiency have also become priorities in the new federal hydrogen strategy.

Belgium already has a hydrogen pipeline network and plans to develop an additional 100 to 160 km of pipelines by 2026, as well as deploy an open-access hydrogen backbone linking ports to industrial areas and neighbouring countries by 2030.

Thanks to its central location in Europe, and its important North Sea ports, Belgium has all the assets to position itself as an import and transit hub for renewable molecules in Western Europe, as is currently the case for natural gas and electricity.

Belgium, which aims to create around 10,000 jobs by the end of the decade, has set itself the target of commissioning at least 150 MW of electrolysers by 2026.


France aims to become one of the world leaders in carbon-free hydrogen. With the "National Strategy for the Development of Low-Carbon Hydrogen" and the "France 2030 Plan", the State's investment amounts to 9 billion euros over 10 years.

The main lines of the strategy are to decarbonize the industry by creating a competitive French electrolysis sector with a production capacity of 6.5 GW, to develop professional, heavy or intensive mobility using renewable or low-carbon hydrogen, and to support research and innovation in order to promote the uses of the future (e.g., energy storage, response to the intermittency of renewable energies). 

By 2030, the objective is to avoid the emission of 6 Mt of CO2 per year, to create more than 100,000 jobs and to have at least four gigafactories of electrolysers and all the technologies necessary for the use of hydrogen on its territory. 

To achieve this, France has many assets: a large amount of renewable or low-carbon electricity, the excellence of its research sector, an industrial presence throughout the value chain, as well as its geographical position, which can give it the status of a transit country for hydrogen produced in southern Europe and destined for the North. 


By 2050, the Netherlands wants to be climate-neutral, meeting European climate targets. The government wants to develop a sustainable energy mix, including renewable electricity and heat. Hydrogen is also needed for this, because not everything can be made sustainable with electricity. The government wants to help develop the production and application of sustainable hydrogen. 

Dutch industry already produces and uses hydrogen on a large scale. For example, as a fuel. This is still mainly done with hydrogen made with natural gas. This is called fossil (grey) hydrogen because this process releases CO2: about 13 megatons per year. In the coming years, the government wants to replace this fossil hydrogen with cleaner alternatives. 

The Dutch Climate Agreement contains targets on the use of hydrogen. By 2025, there is a nationwide network of 50 hydrogen filling stations. Also, and by 2032, electrolysis capacity is 8 GW, with sufficient storage sites and infrastructure.

So, the Dutch government wants to help further develop the production and use of renewable hydrogen. Among other things, by cooperating with companies, civil society organizations and knowledge institutes. To stimulate the use of hydrogen, the government is taking various measures, such as: 

  • There are subsidies for hydrogen projects. For example, for innovative techniques.
  • Expansion of hydrogen transport and storage options. For example, through the national transport network for hydrogen and, in the future, infrastructure at sea. The national transport network consists mainly of pipelines previously used for gas.
  • New agreements with the hydrogen sector on hydrogen development through the National Hydrogen Program.

New uses of hydrogen

Until now, hydrogen was mainly used in refineries for cracking and polymer manufacturing operations, the fertiliser industry and steel manufacturing. However, soon it will also be used in power generation and storage, heavy transport, and as one of the most efficient medium-term solutions for moving light transport, where fuel cells already exist to power cars and buses, shipping, and, finally, aviation.

Consultancy to promote this technology

The technology consultancy firm provides its clients with strategic advice, the preparation of roadmaps and the creation of business models for hydrogen and its derivatives. It also provides contract development and execution, intermediation between producers and buyers, and support for financing.

In addition, the consultancy firm's offer also includes the identification of opportunities, the design of operating models, marketing support, risk analysis and back-office process support.