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The results of the first pilot European Hydrogen Bank (EHB) auction are available: €720 million for renewable hydrogen production in Europe. 7 projects were selected out of an oversubscribed auction which attracted 132 bids in total. Together, the winning bidders plan to produce 1.58 million tonnes of renewable hydrogen over ten years, avoiding more than 10 million tonnes of CO2 emissions. The selected projects are located in 4 European countries: Finland, Norway, Portugal, and Spain. They submitted bids between €0.37 and €0.48 per kilogram of renewable hydrogen produced, and also met the other qualification requirements. The 7 projects will receive subsidy ranging from €8 million to €245 million per project. https://lnkd.in/eCrHBemD #ey #eyrenewables #eyenergy #hydrogen #sustainability

📑 Hydrogen auction by the European Hydrogen Bank cleared at only a few cents. It suggests that: - If green electricity is sourced properly, green hydrogen is already economical (as we explained here 👉 https://bit.ly/4a7j0DK) - Especially now that all hydrogen production earns free #EUETS allowances - Ammonia and refining are where green hydrogen is the most profitable - Refineries need to use green hydrogen to meet obligations under the Renewable Energy Directive, so they would have paid for it anyway 💡 So now that we know hydrogen doesn't need so much support, how about a CIRCULARITY bank? Press statement by the European Commission on the results of the first auction of the European Hydrogen Bank: https://bit.ly/3UsC1L6

European Hydrogen Bank #EHB #auction provides €720 million for renewable #hydrogen production in #Europe The 7 selected projects were the winners of an oversubscribed auction which attracted 132 bids in total. Together, the winning bidders plan to produce 1.58 million tonnes of renewable hydrogen over ten years, avoiding more than 10 million tonnes of CO2 emissions. The selected projects are located in 4 European countries. They submitted bids between €0.37 and €0.48 per kilogram of renewable hydrogen produced, and also met the other qualification requirements. The subsidy the 7 projects will receive ranges from €8 million to €245 million.

European Hydrogen Bank auction provides €720 million for renewable hydrogen production in Europe I am thrilled to share that the European Commission is taking significant steps towards a greener future with the allocation of nearly €720 million to seven ground-breaking renewable hydrogen projects across Europe. These projects, selected through the inaugural competitive bidding process under the European Hydrogen Bank, mark a pivotal moment in our journey towards sustainable energy solutions. Funded by the EU Emissions Trading System, this initiative aims to bridge the price gap between renewable and non-renewable hydrogen production, thereby accelerating the transition to cleaner fuels. The selected projects will play a vital role in decarbonizing European industries, with renewable hydrogen set to power sectors such as steel, chemicals, maritime transport, and fertilizers. In an oversubscribed auction that attracted 132 bids, these seven projects emerged as pioneers in the field, collectively planning to produce 1.58 million tonnes of renewable hydrogen over the next decade. This ambitious endeavour is projected to prevent over 10 million tonnes of CO2 emissions, significantly reducing our carbon footprint. Spanning across four European countries, these projects submitted competitive bids ranging from €0.37 to €0.48 per kilogram of renewable hydrogen produced. The subsidy awarded to each project reflects their commitment to innovation and sustainability, ranging from €8 million to €245 million. I commend the visionary efforts of these winning bidders and the European Commission for their dedication to fostering a more sustainable future. Together, we are laying the foundation for a cleaner, greener tomorrow. Link - https://lnkd.in/dV8SwEP7 #RenewableEnergy #Sustainability #CleanEnergy #EuropeanCommission #HydrogenRevolution

The first ever EU-wide auction for renewable #hydrogen awarded €720 million to seven renewable hydrogen projects The clearing price was 0,48 EUR / kg H2 Based on inforamtion provided by the European Commission, 1. Lowest average #LCOH is in Greece, Sweden and Spain (between 5.3 and 5.8 EUR / Kg) 2. Highest average #LCOH are in Poland, France, Austria, Germany, Denmark (wow?) and Belgium (from 13.5 to 11 EUR / Kg) 3. The average #offtake price for H2 was 5.67 EUR / Kg in industry and 8.34 EUR / Kg in Mobility. https://lnkd.in/dEuTQ_ms

Important steps are being made 👏🏽

European Hydrogen Bank auction provides €720 million for renewable hydrogen production in Europe I am thrilled to share that the European Commission is taking significant steps towards a greener future with the allocation of nearly €720 million to seven ground-breaking renewable hydrogen projects across Europe. These projects, selected through the inaugural competitive bidding process under the European Hydrogen Bank, mark a pivotal moment in our journey towards sustainable energy solutions. Funded by the EU Emissions Trading System, this initiative aims to bridge the price gap between renewable and non-renewable hydrogen production, thereby accelerating the transition to cleaner fuels. The selected projects will play a vital role in decarbonizing European industries, with renewable hydrogen set to power sectors such as steel, chemicals, maritime transport, and fertilizers. In an oversubscribed auction that attracted 132 bids, these seven projects emerged as pioneers in the field, collectively planning to produce 1.58 million tonnes of renewable hydrogen over the next decade. This ambitious endeavour is projected to prevent over 10 million tonnes of CO2 emissions, significantly reducing our carbon footprint. Spanning across four European countries, these projects submitted competitive bids ranging from €0.37 to €0.48 per kilogram of renewable hydrogen produced. The subsidy awarded to each project reflects their commitment to innovation and sustainability, ranging from €8 million to €245 million. I commend the visionary efforts of these winning bidders and the European Commission for their dedication to fostering a more sustainable future. Together, we are laying the foundation for a cleaner, greener tomorrow. Link - https://lnkd.in/dV8SwEP7 #RenewableEnergy #Sustainability #CleanEnergy #EuropeanCommission #HydrogenRevolution

[ 🇪🇺🔊EU NEWS🔊🇪🇺] European Commission welcomes deal to decarbonise EU gas market. As a milestone in the energy transformation, the European Parliament and Council of the European Union have recently agreed on the Global Gas Directive, introducing new rules to reduce the #carbon footprint in the European gas industry. The focus is on the integration of renewable gases like #greenhydrogen, low-carbon gases and biomethane into the energy system. 🔑Key aspects include: ✅ Emphasis on dedicated hydrogen infrastructure, cross-border coordination and interconnector network construction ✅ Creation of an EU entity (ENNOH) for Hydrogen Network Operators ✅ Specific plans for hydrogen network development aligned with practical demand projections ✅ Certification system for low-carbon gases, complementing the revised Renewable Energy Directive ✅ Launch of a five-year pilot project for consolidating hydrogen demand and supply, enhancing market transparency 👉 The next step? Adoption by the European Parliament and Council. 🔍For more details, see the full article https://lnkd.in/d3NeymFU #RePowerEu