The European Hydrogen Bank’s pilot auction has drawn 132 bids, exceeding the available budget, while Australia has finalized an agreement to build a hydrogen hub. February 20, 2024 Sergio Matalucci Image: Andrzej Rembowski, PixabayGasunie and Storag have revealed plans to develop hydrogen storage in the Etzel salt dome in the German state of Lower Saxony. “The aim, following a feasibility study, is...
Hydrogen Bank
Austria earmarks €400m to subsidise domestic green hydrogen projects, using EU auctions-as-a-service
Austria looks set to become the second EU member state to offer green hydrogen production subsidies for domestic projects via the bloc’s European Hydrogen Bank (EHB), after the country unveiled plans to make hundreds of millions of euros available for an upcoming auction. A new draft law, jointly sponsored by the climate ministry (BMK) and the finance ministry , envisages €400m ($432m) for green H2...
© Mo Photography Berlin / Shutterstock © Mo Photography Berlin / Shutterstock The European Commission has approved the €350m ($379m) German scheme designed to support renewable hydrogen production.Being implemented through the European Hydrogen Bank’s ‘Auctions-as-a-service’ (AaaS) tool, the approved scheme will ensure up to 90MW of electrolysis capacity and incentivise production of up to...
India has the potential to attract $ 125 billion as cumulative investments across the green hydrogen value chain by 2030, investment bank Avendus Capital says.In a recent report ‘Green Hydrogen – the next frontier in energy transition’, Avendus underlines the decarbonisation potential of green hydrogen and the role it could play in India’s transition to a greener economy. “This growth will be...
BAKU, Azerbaijan, April 5. The European Commission has greenlit a €350 million initiative by Germany aimed at bolstering the production of renewable hydrogen, Trend reports via the Commission. This initiative, facilitated through the innovative "Auctions-as-a-Service" tool of the European Hydrogen Bank, aligns closely with the objectives outlined in the REPowerEU Plan and the European...
Commission approves €350 million scheme to support renewable hydrogen production in Germany. The European Commission has approved, under EU State aid rules, a €350 million German scheme to support the production of renewable hydrogen through the European Hydrogen Bank‘s “Auctions-as-a-Service” tool. The German measure is in line notably with the objectives of...
European Hydrogen Bank: 132 auction bids from 17 countries In a press release, the European Commission announced that the bids received following the auctions launched by the European Hydrogen Bank far exceeded the planned budget of 800 million euros. A large number of renewable hydrogen producers responded to the call. Kurt Vandenberghe, Director-General for Climate Action, stated that “the...
On 14 September 2022, in the Letter of Intent to President Metsola and Prime Minister Fiala, President Von der Leyen announced a proposal to create a EU Hydrogen Bank among the key new initiatives for 2023. In the State of the Union speech, President Von der Leyen said that hydrogen can be a game changer for Europe, and it is needed to move European hydrogen economy from niche to scale. REPowerEU...
The European Commission has announced that its pilot auction for green hydrogen production has attracted 132 bids from projects across 17 European countries that, if fully realized, could meet nearly 10% of the EU’s ambition for domestic green hydrogen production in 2030....
The European Commission’s pilot European Hydrogen Bank auction has received 132 bids from 17 European countries, which “far exceeds” the auction’s budget of €800 million ($862m), the EC said Monday. Launched in October 2022, the European Hydrogen Bank has a total budget of €3 billion to support renewable hydrogen production in Europe. Auction winners will receive a fixed premium of...