von der Leyen announces €3bn European Hydrogen Bank auction round in 2024

European Commission President, Ursula von der Leyen has announced plans for a second European Hydrogen Bank auction round, with a total value of €3bn ($3.28).

Speaking virtually at the start of European Hydrogen Week in Brussels today (November 20), von der Leyen said the second round would launch in spring 2024 in a bid to reduce the cost gap between renewable and fossil hydrogen.

“In spring 2024, we will launch the second round of auctions, reaching a total value of €3bn,” the President said. “It is a promise we made one year ago, and it is now becoming a reality.”

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