The European Hydrogen Bank reports significant growth: Around 2 billion euros are available for its second auction round – more than double the amount of the first tender. This increase was made possible by Spain, Lithuania, and Austria joining the "Auctions-as-Service" mechanism.
Massive Investments from New Partners
Austria leads the new partners' contributions with 400 million euros, earmarked for hydrogen projects up to 300 megawatts. The maximum funding per project is set at 200 million euros. Spain participates with up to 400 million euros from its Recovery and Resilience Plan, with the exact amount to be determined by spring 2025. Lithuania contributes 36 million euros from its national modernization fund.
The three countries pursue ambitious hydrogen strategies: Spain aims to expand its electrolysis capacity to 12 gigawatts by 2030. Lithuania targets 1.3 gigawatts and plans to produce 129 kilotons of renewable hydrogen. Austria has set a goal of one gigawatt electrolysis capacity by 2030.
Forward-Looking Support Mechanism
Through the "Auctions-as-Service" mechanism, EU member states can participate in the central European auction platform. Companies can apply for both EU funds and national funding with a single bid. Successful projects receive a fixed premium for green hydrogen production over a maximum period of ten years to balance production costs and market price.
The EU Innovation Fund, sourced from CO2 certificate trading revenues, has a total budget of around 40 billion euros until 2030. To date, approximately 7.2 billion euros have been approved for innovative climate protection projects.
