The first hydrogen bank auction was launched in November 2023 and closed in February 2024, awarding nearly €720 million to 7 renewable hydrogen projects across Europe, from a total of 132 bids submitted to the auction. 6 of 7 projects signed their respective grant agreements in October 2024.
The projects must start producing renewable hydrogen within 5 years. Together, they have the potential to produce 1.52 million tonnes of renewable hydrogen in their first 10 years of operation,avoiding more than 10 milliontonnes of CO2 emissions.
