European Hydrogen Bank Allocates €1.09 Billion to Nine Electrolytic Projects
The European Hydrogen Bank has selected nine projects for over €1.09 billion in funding, representing 1.1 GW of electrolyzer capacity. This funding aims to incentivize clean hydrogen production across seven countries, marking a significant step in the EU's hydrogen strategy.
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The third European Hydrogen Bank auction has allocated €1.09 billion for nine projects across seven countries, focusing on electrolytic hydrogen production. These projects, totaling 1.1 GW, will produce approximately 1.3 million tonnes of hydrogen over ten years.
Subsidies awarded range from €0.44 to €3.49 per kilogram, with the highest bids going to two Norwegian maritime projects. Notably, five RFNBO projects were selected, with capacities totaling 439 MW, while a significant low-carbon project in Finland will add 500 MW. The auction attracted 58 bids, indicating strong market interest, with demand significantly exceeding the available budget, suggesting competitive pressure in future rounds.
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