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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