EU to launch pilot auction in November to support renewable hydrogen production

8 September 2023, 12:06

EU to launch pilot auction in November to support renewable hydrogen production

The European Hydrogen Bank (EHB), established by the European Commission to develop the hydrogen economy in the EU, plans to launch a pilot auction on 23 November to provide operating support for renewable hydrogen production. Successful projects will receive a fixed premium for each kilogram of renewable hydrogen produced for 10 years. The European Commission reported.

At the end of August, the European Commission published the terms and conditions for a pilot auction to support the production of renewable hydrogen. The auction, which will take place on 23 November, will be financed by the Innovation Fund and administered by the European Hydrogen Bank.

The total support provided to successful projects is expected to amount to up to 800 million euros. It will be paid as a fixed premium for each kilogram of renewable hydrogen delivered, helping to bridge the gap between the cost of producing renewable hydrogen and the price buyers are willing to pay for the commodity.

Translation disclaimer

This article is a machine translation of the Czech original and has not yet been fully reviewed. In case of any doubt, please refer to the Czech version.

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