The funds will be distributed amongst 7 projects in 4 countries: Finland, Norway, Spain and Portugal. In addition, under a different scheme, Germany also received a total of 350 million EUR to support hydrogen-related products. The European Hydrogen Bank, which provides the funds, was founded in 2022, as a finance tool to support domestic and EU level sustainable hydrogen production, and to develop coordinated EU strategy for renewable hydrogen imports. The funds, awarded on 30 April, were selected through a bidding system ran by the hydrogen bank. The current funds are the result of the first auction, which began in 2023. The second auction is scheduled to launch in late 2024.
The European Climate, Infrastructure and Environment Executive Agency (CINEA) selected the recipients of the funds from 132 applicants. The 7 winners are set to produce verified and certified renewable fuel of non-biological origin (RFNBO) hydrogen. They will have to begin sustainable hydrogen production in the next 5 years, after which, until up to 10 years, they will receive a subsidy for each kilogram of renewable hydrogen produced. In total, they are expected to produce 1.58 million tonnes of renewable hydrogen. According to the Commission, this means that more than 10 million tonnes of CO2 emissions may be prevented, contributing largely to the Green Deal objectives.
More details on each of the projects can be found here.
