Industry welcomes EU Hydrogen Bank rules

Extension of completion period, raised ceiling price and reduction in required grant collateral will make applications easier, says Hydrogen Europe

The European Commission has released more details about the pilot auction for its Hydrogen Bank, aimed at incentivising green hydrogen production within the EU.  The auction will open on 23 November  and award producers a total of up to €800m ($869m) in the form of a fixed premium, with priority given to the lowest bidders. The maximum grant amount for any one project will be limited to €266.7m. Projects can come into operation five years after signing the contract, and bidders will be required to provide a guarantee, issued by a bank or other financial institution, for 4% of the grant amount. The project sets a maximum bid for the fixed premium of €4.5/kg. No upper or lower limits to the ex