Policy Pillar: Europe focuses on hydrogen imports ahead of pivotal 2024 elections

Seldom grabbing hydrogen policy headlines, Europe has gone from strength to strength in recent years on its drive to secure global hydrogen leadership.

The first pilot Hydrogen Bank round, offering €800m ($826m) to support renewable hydrogen producers with up to €4.5/kg ($4.85), has attracted over 130 projects. European Commission President, Ursula von der Leyen, also revealed plans for a second round, with a volume of €3bn ($3.2bn), expected to launch this spring.

Germany has taken advantage of the Commission-backed plans to launch its own national renewable hydrogen auction. It earmarked €350m ($377m) from its budget to support additional projects that are not selected by the union-wide auctions.

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