The EU plans a second auction this year
Southern and Nordic projects triumph in EU green auctions
Low clearing prices in first European Hydrogen Bank auction reflect fierce competition for green hydrogen subsidies and buyers’ willingness to pay premium
Seven hydrogen production projects spanning Spain, Portugal and the Nordic region will share a total of €720m ($768.96m) of subsidies over ten years after submitting winning bids in the first competitive auction under the EU’s European Hydrogen Bank (EHB) scheme. The winning projects plan to produce a combined 1.58mt of renewable hydrogen over ten years. The bids for subsidies range from €0.37–0.48/kg of hydrogen produced, far below the auction’s upper limit of €4.50/kg. The subsidies granted to individual winning projects range from €8–245m. Subsidies are paid as fixed premiums and are intended to bridge the gap between the cost of green hydrogen production and the price consumers are willi
Also in this section
17 January 2025
Bank’s UK arm signs first deal to finance a green hydrogen developer, but cost and offtake pressures mean the sector remains too risky for many lenders
15 January 2025
The country’s technology-neutral position and competitive business environment mean it is looking to be surfing the second wave of the energy transition while others are still grappling with the first
14 January 2025
With abundant wind and sunshine, Africa is poised to lead in green hydrogen production. Yet high costs and financing challenges require global partnerships to unlock the continent's potential
14 January 2025
The continent’s largest economy sees an opportunity to join the global export market, but funding gap and lack of regulatory framework present challenges
