The European Commission has launched its second European Hydrogen Bank (EHB) auction for green hydrogen producers, with a budget of €1.2bn ($1.26bn).
Backed by EU Emissions Trading Scheme (ETS) revenues through the Innovation Fund, the IF24 auction will provide per kilogramme subsidies to green hydrogen projects to bridge the cost gap with fossil fuels.
With a budget €400m ($420m) larger than the pilot auction, which signed its funding contracts with six projects in October, the new auction will provide €1bn ($1.05bn) for projects supplying hydrogen to any sector, with the remaining €200m ($210m) dedicated to maritime applications.
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