Last December, the European Hydrogen Bank launched its second auction to award up to 1.2 billion euros to renewable hydrogen producers in the European Economic Area (EEA). A total of 61 bids were received from 11 countries. Eight of the bids were submitted by hydrogen producers in the maritime sector, under the dedicated maritime topic.The total support requested exceeds 4.8 billion euros, four times...
Description Today’s hydrogen production is based on unabated fossil fuels (primarily for use in the chemical and refining sectors), resulting in over 900 million tonnes of CO₂ emissions each year, equivalent to the combined energy sector emissions of Indonesia and the United Kingdom. In 2023, less than 1 Mt of hydrogen was produced by low-emission pathways, such as electrolysers using renewable...
The European Hydrogen Bank’s second auction for the production of renewable hydrogen has attracted 61 bids for projects in 11 countries in the European Economic Area (EEA) . Total grant support requested is more than EUR 4.8 billion, four times the available budget. Nevertheless, issues remain about competitiveness and the speed of introduction of clean hydrogen – in the...
The European Commission has approved two significant State aid schemes to ramp up renewable hydrogen production in Austria and Lithuania. With a combined funding of €436m, these clean hydrogen initiatives align with the European Union’s broader objectives under the Clean Industrial Deal, the REPowerEU Plan, and the EU Hydrogen Strategy. This move marks a crucial step in reducing Europe’s...
Clarity on clean hydrogenOur mission is to deliver engaging and independent business journalism and insight to executives and leaders in the global clean hydrogen industry. We focus on delivering the news and analysis that matters, fearlessly looking beyond the hydrogen hype to provide a balanced view of the market, giving readers the knowledge they need to make critical business decisions. Source...
The European Hydrogen Bank’s second auction for the production of renewable hydrogen has attracted 61 bids from projects in 11 countries, with eight of the bids submitted by hydrogen producers with off-takers in the maritime sector.Illustration purposes only; Courtesy of the European Commission As disclosed, the total grant support requested is more than €4.8 billion, four times the...
The European Commission, the European Investment Bank (EIB), KfW Development Bank (KfW), Corporación de Fomento de la Producción (CORFO) and the Chilean Ministry of Energy have signed agreements to support Chile’s renewable hydrogen industry via the Team Europe Renewable Hydrogen Funding Platform for Chile. Courtesy of the European Commission; Photo by Mauro Bottaro As disclosed, under the...
Key takeaways: Supply and Demand Gap: Current renewable hydrogen production is only 0.02 million tonnes per year (Mtpa), far below the EU’s unrealistic consumption targets of 20 Mtpa by 2030. We project regulated demand from existing policy measures to range between 2.2 and 2.8 Mtpa by 2030, driven by mandates in industry and transportation. Our Accelerated Transition Scenario...
Funding is filtering through from the European Hydrogen Bank auction Funding is filtering through from the European Hydrogen Bank auction The European Commission is supporting electrolyser and hydrogen development in Austria and Lithuania through state aid funding worth €400m and €36m respectively.The...
The second auction under the European Hydrogen Bank, a financing platform to scale up the renewable hydrogen value chain in the European Union and partner countries, has been oversubscribed by over four times with about 6.3 gigawatts (GW) of project proposals asking for over EUR 4.8 billion ($5.23 billion), the European Commission said. “Over ten years, these projects would produce more than...
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