European Hydrogen Bank auction receives 61 bids, including 8 maritime projects

The total grant support requested is more than €4.8 billion, four times the available budget of €1.2 billion provided by the Innovation Fund. All bids taken together account for a total electrolyser capacity of around 6.3 Gigawatts (GWe). Over ten years, these projects would produce more than 7.3 million tonnes of renewable hydrogen. On a yearly basis, this would cover 7% of the EU’s REPowerEU ambition for domestic renewable hydrogen production in 2030.

Wopke Hoekstra, Commissioner for Climate, Net Zero and Clean Growth, said: “The amount of bids in this second auction under the European Hydrogen Bank again shows the attractiveness of the Innovation Fund as a tool for Europe’s industrial decarbonisation and competitiveness. This continued appetite from our industry reinforces the development of a European market for clean hydrogen. As a key driver of our goal to achieve climate neutrality by 2050, hydrogen plays a crucial role in cutting emissions from hard-to-abate sectors. It will strengthen Europe’s industrial leadership in emerging clean technologies, ensuring long-term economic resilience and global competitiveness.”

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