US Edition
European Commission Awards $1B in Green Hydrogen Subsidies
- The European Commission awarded €992 million in public funding to 15 renewable hydrogen projects across five countries to produce 2.2 million tonnes of green hydrogen over 10 years.
- This second European Hydrogen Bank auction aimed to reduce reliance on fossil fuels and scale up renewable hydrogen in hard-to-decarbonise sectors such as transportation and chemicals.
- Selected projects include three maritime-focused initiatives receiving £96.7 million in grants with subsidies ranging from £0.45 to £1.88 per kilogram of hydrogen to reflect higher costs in shipping fuel.
- The subsidy period extends up to 10 years with fixed premiums between €0.20 and €0.60 per kilogram encouraging commercial viability and supporting Europe’s climate and energy goals, according to Commissioner Wopke Hoekstra.
- Projects must finalize agreements by October 2025, reach financial close within 2.5 years, and begin production within five years, while a third auction with a €1 billion budget is planned for late 2025 to maintain momentum.
18 Articles
18 Articles
EU Greenlights Nearly €1 Billion for Green Hydrogen Projects
The European Union (EU) has approved €992 million in funding for 15 renewable hydrogen projects in 5 countries across the European Economic Area. This investment, under the EU Innovation Fund, is a key part of Europe’s clean energy strategy. The projects aim to produce about 2.2 million tonnes of green hydrogen over the next decade, helping to cut over 15 million tonnes of CO₂ emissions. The focus is on heavy industry and transport. These sector…
Deutsche ReGas secures EU funding for Lubmin hydrogen hub
The funding was awarded in an almost one billion euro auction, the second for the European Hydrogen Bank. Deutsche ReGas said in a statement that 15 projects were awarded the funding. The LNG terminal operator said it is the first German company to succeed in the European Hydrogen Bank auction. Last year, Deutsche ReGas completed the front-end engineering and design phase for its planned hydrogen hub in Lubmin. The large-scale electrolysis plant…
Europe Renewable Electricity Market Size, Revenue Share, Growth Opportunities, Trends, Forecast By 2032 – iCrowdResearch
Europe Renewable Electricity Market Overview The study documents by MRFR state that the Europe Renewable Electricity Market Research Report Information by Type and Region – Forecast Till 2032, the Europe Renewable Electricity Market Size is projected to grow USD 2182.9 Billion by 2032, with CAGR of 8% during the forecast period (2023 – 2032). Europe Renewable Electricity […]
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