The European Hydrogen Bank recently concluded its second renewable hydrogen tender, awarding €992 million in subsidies to 15 projects. The auction, oversubscribed with 61 bids from 11 countries, showcased the strong demand for public funding in the green hydrogen sector. The feed-in tariffs, ranging from €0.20/kg to €1.88/kg, were competitive and aimed at stimulating renewable hydrogen production. The EU's directives for renewable hydrogen usage by 2030, particularly the legally binding targets, influenced bidding behavior and underscored the sector's growth potential. However, concerns over financial viability and cost parity with carbon hydrogen exist due to varying LCOH figures and the need for off-takers willing to pay a premium for green hydrogen. The auction mechanism, established in compliance with EU state aid rules, marks a significant step towards the Union's renewable hydrogen goals as outlined in the European Hydrogen Strategy. The success of these projects will depend on continued efforts by member states to implement national policies that incentivize buyers and increase renewable energy policies to power the production of renewable hydrogen.