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 ...
Hydrogen Bank
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...
Germany has earmarked €350m from its national budget to support renewable hydrogen production under the European Hydrogen Bank’s new Auction-as-a-Service (AaaS) scheme.The scheme will follow a similar structure to the recently launched European Hydrogen Bank auctions, which offer up a fixed premium per kg of hydrogen for domestic renewable hydrogen producers.Becoming the first EU member state to...
The European Commission (EC) has approved a €900 million French scheme to support companies investing in the use of biomass and renewable hydrogen in energy and fuel production, to foster the transition towards a net-zero economy.Courtesy of the European Commission; Credit: Mauro Bottaro According to the EC, the scheme was approved under the State Aid Temporary Crisis and Transition Framework,...
The EU Commission made history by approving $380M (€350m) German scheme to bolster renewable hydrogen production in Germany. The scheme was released this month under the EU state aid rules. It would be operated exclusively through the European Hydrogen Bank’s “Auctions-as-a-Service” tool. REPowerEU and The European Green Deal have set a concrete plan to move away from fossil fuels and embrace the...