The European Hydrogen Bank reveals its first winners

European Hydrogen Bank winners
The European Hydrogen Bank reveals its first winners

The European Commission has allocated €720 million for 7 projects linked to green hydrogen production. Winning projects are to receive subsidies to cover the difference between the cost of non-green modes of transport. A boost that will help kick-start the industry.

The result exceeded expectations, with 132 responses to the first auctions launched by the European Hydrogen Bank. Only 7 bidders will share the budget ( between €8 million and €245 million depending on the project) for a total production of 1.58 million tonnes of hydrogen over 10 years, at prices ranging from €0.37 to €0.48 per kg.

These producers are spread across 4 countries. There is Spain (with three projects: El Alamillo H2 coordinated by Benbros Energy, Hysencia with Angus and Catalina with Renato Ptx Holco). Also Portugal (Grey2green II with Petrogal and MP2X with Madoqua Power2x). On the list, there is also Finland (eNRG Lahti with Nordic Rengas Oy). And finally Norway (with Skiga).

The winners are expected to sign a subsidy contract with CINEA by November. They will have to produce within a maximum of 5 years. It is worth noting that the Commission plans to launch a second auction by the end of the year. It should draw lessons from this first pilot operation.

Click here to read the press release.

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Article written by Laurent Meillaud and translated by Mariem Ben Tili

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About the author

Laurent Meillaud

Laurent Meillaud

Freelance automotive journalist and consultant, author as well, focused on technologies and new trends for more than 30 years, convinced that hydrogen is one of the energies for the future.

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