EU to hold €800mn hydrogen auction
The bloc will award projects with a fixed premium per kilogram of renewable hydrogen produced
The European Commission will launch its first auction for supporting renewable hydrogen production within the bloc this autumn, in an effort to match incentives offered by the US Inflation Reduction Act. Winning bids will be awarded a fixed premium per kilogram of hydrogen produced over a ten-year period through the EU’s Innovation Fund, although the bloc has not disclosed what this premium will be. The Commission has budgeted €800mn ($873.76mn) for the auction and is expected to release further details this June. The Commission also plans to introduce a competitive bidding mechanism to subsidise the production cost of components for wind and solar energy, batteries and electrolysers. It exp
Also in this section
22 March 2024
German energy firm and Canada-based Pattern Energy aim to ship green ammonia to Hamburg in latest move to secure imports to Europe’s largest economy
22 March 2024
French company prepares for commercial launch of underground storage system to be deployed at green hydrogen production and consumption sites
21 March 2024
Region has competitive edge in low-carbon hydrogen, but infrastructure and export challenges are key roadblocks to overcome
18 March 2024
Major Indian companies are venturing into the sector thanks to government support, but cost and incentive questions persist