Updated: Up to €4.5/kg available for hydrogen producers in European Hydrogen Bank auction

The European Commission on Wednesday (August 30) revealed its rules for its first European Hydrogen Bank auctions, offering renewable hydrogen production subsidies of up to €4.5/kg ($4.9) – updated in paragraphs 8, 9 and 10.

Funded by the Innovation Fund, the auction is planned to open on November 23, 2023, to award up to €800m ($871.1m) to renewable hydrogen producers in the European Economic Area (EEA), offering a fixed premium per kg of renewable hydrogen produced over 10 years of operation.

Under its published terms and conditions, the European Commission has set a ceiling price of the fixed premium of €4.5/kg of hydrogen production.

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