EU Allocates €1.09 Billion for Hydrogen Production Projects Across Seven Countries
The European Commission has awarded €1.09 billion to nine hydrogen projects under the European Hydrogen Bank, aiming to enhance clean hydrogen production. These initiatives will generate 1.1 GW of electrolyser capacity and 1.3 million tonnes of hydrogen over ten years, while avoiding 9 million tonnes of CO2 emissions.
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The European Commission has allocated approximately €1.09 billion ($1.3 billion) to nine hydrogen production projects through the European Hydrogen Bank. These projects, spanning Greece, Spain, Denmark, Austria, Finland, Germany, and Norway, aim to achieve nearly 1.1 gigawatts of electrolyser capacity and produce over 1.3 million tonnes of hydrogen within their first decade, contributing to a reduction of 9 million tonnes of CO2 equivalent emissions.
Each project will receive a subsidy of €0.57 to €3.49 per kilogram of produced hydrogen for a maximum of 10 years. This funding is sourced from the EU Innovation Fund based on the Emissions Trading System, supporting Europe's transition to clean energy and enhancing industrial competitiveness.
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