EU approves €400m of renewable hydrogen funds

The funding will is related to the European Hydrogen Bank’s “Auctions-as-a-Service” tool for the auction closing in 2025.

The schemes will contribute to the objectives of the Clean Industrial Deal to accelerate the decarbonisation of EU industry while strengthening its competitiveness, of the REPowerEU Plan to reduce dependence on Russian fossil fuels and accelerate the green transition, as well as the EU Hydrogen Strategy.

Austria and Lithuania notified the Commission of their intention to introduce schemes to support the production of renewable hydrogen through the “Auctions-as-a-Service” tool within the European Hydrogen Bank.

The approved schemes will support the production of up to 112,000 tonnes of renewable hydrogen in Austria, and 13,000 tonnes of renewable hydrogen in Lithuania.

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