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
![](/images/white-fade.png)
Also in this section
26 July 2024
European offtakers and strategic investors start to unlock North African country’s vast potential as a green hydrogen and ammonia supplier
25 July 2024
Investment in 100MW green hydrogen facility in Germany comes as oil major’s wider transition strategy comes under scrutiny
24 July 2024
World’s largest green fertiliser supply agreement puts Villeta project in Paraguay on track for FID later this year
23 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries