The European Commission has approved a €3bn ($3.12bn) German-Dutch scheme to import green hydrogen from non-EU countries for sale in Germany and the Netherlands.
Germany and the Netherlands will commit €2.7bn ($2.81bn) and €300m ($312m), respectively, to the H2Global double auction scheme that will buy green hydrogen at the lowest costs and sell it in the EU at the highest prices.
Expected to support the construction of nearly 1.9GW of electrolysis capacity globally, the aid will be awarded through a competitive bidding process, which the Commission says could be concluded in 2025.
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