As part of the European Hydrogen Bank’s first call for bids (see EUROPE 13354/11), the European Commission announced on Tuesday 30 April that it has awarded nearly €720 million to seven renewable hydrogen projects.
Financed by revenues from the EU Emissions Trading System, these projects, selected from 132 bids received, will produce renewable hydrogen in Europe and receive a subsidy to make up the difference between their production costs and market prices.
They plan to collectively produce 1.58 million tonnes of renewable hydrogen over ten years, avoiding more than 10 million tonnes of CO2 emissions.
The projects, located in four European countries (Finland, Spain, Portugal and Norway) range from €0.37 to €0.48 per kilogram of hydrogen produced, with subsidies of between €8 million and €245 million.
They have 5 years to start production and will receive the awarded fixed premium subsidy for a maximum of 10 years for the certified and verified production of renewable hydrogen.
Each project will now prepare its individual grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA). These agreements will be signed in November 2024 at the latest.
A second auction is planned for the end of the year.
To see the selected projects: https://aeur.eu/f/c0m (Original version in French by Pauline Denys)