EU awards €720m in renewable hydrogen subsidies to seven projects: offering less than €0.5/kg

The European Hydrogen Bank (EHB) has awarded seven renewable hydrogen projects with almost €720m ($772m) in subsidies with projects set to gain less than €0.5/kg of hydrogen.

Coming as the first competitive bidding process under the EHB, over 132 bids were made in total, with the selected seven expected to produce some 1.58 million tonnes of renewable hydrogen over a decade from a combined 1.48GW of electrolysis.

The winning bids will gain access to between €0.37 ($0.40) and €0.48 ($0.51) per kilogramme of renewable hydrogen produced, receiving total subsidies between €8m ($8.6m) and €245m ($263m), funded by revenues from the EU’s emissions trading scheme (ETS).

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