Austria allocates €400m to subsidise renewable hydrogen production

Austria plans to support domestic renewable hydrogen producers with a €400m ($432m) subsidy package backed by the European Hydrogen Bank (EHB).

The Ministry of Climate Protection (BMK) and Ministry of Finance (BMF) intend to launch a renewable hydrogen auction round under the EHB’s Auction-as-as-Service (AaaS) scheme, to provide a fixed premium per kilogramme of hydrogen to subsidise production.

A corresponding draft law – the Hydrogen Promotion Act – was being reviewed by the BMK on Monday (February 26) to enable the national funding.

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