European Hydrogen Bank (EHB) Auction Success - Accelerating Renewable Hydrogen Production
Key Ideas
  • €1 billion European Hydrogen Bank (EHB) auction successfully allocated subsidies to 15 projects to produce renewable hydrogen in Europe, bridging the price gap and promoting cleaner fuel adoption.
  • Commitment from Europe’s Innovation Fund, sourced from the EU Emissions Trading System (ETS), underscores the finance deployment to accelerate renewable hydrogen projects.
  • 12 of the selected projects will receive fixed premium support ranging from €0.20 to €0.60 per kg, aiming to achieve competitive prices that align with industrial 'willingness to pay.'
  • Norwegian Hydrogen secures dedicated funding for hydrogen supply in the maritime sector, showcasing a significant contribution towards efficient and cost-competitive renewable hydrogen production globally.
Provaris extends congratulations to the successful bidders in the recent €1 billion European Hydrogen Bank (EHB) auction, aimed at boosting renewable hydrogen production in Europe. The subsidies provided to 15 projects will help narrow the gap between production costs and market prices, facilitating the transition to cleaner fuels. With each project receiving subsidies ranging from €8 million to €246 million over a period of up to 10 years, the funding round highlights the dedication to deploying funds from Europe’s Innovation Fund, supported by the EU Emissions Trading System (ETS). Notably, 12 of the selected projects are focused on generating renewable hydrogen with fixed premium support, striving to achieve competitive prices of €0.20 to €0.60 per kg to meet industrial demand. Special recognition is given to Norwegian Hydrogen, one of the three Norwegian projects with a specific budget for hydrogen supply in the maritime sector, securing bids between €0.45 and €1.88 per kg. This success amounts to a total of €96 million over a 10-year period, emphasizing Norway's pivotal role in advancing efficient and cost-effective renewable hydrogen solutions on a global scale.
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