Germany has earmarked €350m from its national budget to support renewable hydrogen production under the European Hydrogen Bank’s new Auction-as-a-Service (AaaS) scheme.
The scheme will follow a similar structure to the recently launched European Hydrogen Bank auctions, which offer up a fixed premium per kg of hydrogen for domestic renewable hydrogen producers.
Becoming the first EU member state to participate in the scheme, it will allow Germany to finance additional projects that are not selected by the Innovation Fund-backed European Hydrogen Bank auction.
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