BAKU, Azerbaijan, May 3. The European Commission has doled out nearly 720 million euros to seven renewable hydrogen projects across Europe, chosen through the inaugural competitive bidding process of the European Hydrogen Bank, Trend reports. These victorious contenders will churn out renewable hydrogen within Europe and snag subsidies to narrow the cost gap between their production expenses...
Hydrogen Bank
The Commission is awarding nearly €720 million to seven renewable hydrogen projects in Europe, selected through the first competitive bidding process under the European Hydrogen Bank, according to EU's release. The funds for this auction come from the revenues of the EU Emissions Trading System. The winning bidders will produce renewable hydrogen in Europe and will receive a subsidy to...
European Hydrogen Bank pilot auction results spark renewable hydrogen competitiveness. On Tuesday, 30 April, the results of the European Hydrogen Bank’s first auction were announced. Seven projects across the EU will receive a total of €720 million, with a plan to produce 1.58 million tonnes (Mt) of renewable hydrogen over ten years, avoiding more than 10Mt of CO2...
Seven projects across Finland, Norway, Portugal and Spain are set to receive a total of EUR 720 million ($771.6 million) in the inaugural award of the European Hydrogen Bank, a European Union funding program to scale up hydrogen production. “The winning bidders will produce renewable hydrogen in Europe and will receive a subsidy to bridge the price difference between their production costs and...
Spain, Portugal take home most of €720m EU hydrogen award – Euractiv. The European Commission announced on Tuesday (30 April) the winners of its first auction to allocate subsidies for hydrogen production, with most of the €720 million awarded going to projects in the Iberian peninsula. The EU’s Hydrogen Bank is the bloc’s vehicle to support the development of a...
The EU has awarded nearly €720 million to seven renewable hydrogen projects with a combined electrolysis capacity of 1.5GW in the European Hydrogen Bank’s first subsidy auction. by Craig Richard ...
European Hydrogen Bank auction provides €720 million for renewable hydrogen production in Europe – Hydrogen Economy. Today, the Commission is awarding nearly €720 million to seven renewable hydrogen projects in Europe, selected through the first competitive bidding process under the European Hydrogen Bank.The funds for this auction come from the revenues of the EU...
This week, the clean hydrogen market will be closely watching the results of the EU’s first European Hydrogen Bank auction on Tuesday. The European Commission has allocated Eur800 million to support renewable hydrogen production projects on a fixed premium over 10-year contracts, with a price ceiling of Eur4.50/kg. The auction was oversubscribed with 132 bids from projects in...