European Hydrogen Bank | Oil & Gas Feed

The pilot auction under the European Hydrogen Bank, for renewable hydrogen production in Europe, has attracted 132 bids from projects located in 17 European countries. The total support requested far exceeds the currently available budget of 800 million euros.

Germany is becoming the first Member State to participate in the EU's new “Auctions-as-a-Service” scheme under the European Hydrogen Bank.

European Commissioner for Energy Kadri Simson and German Minister for Economic Affairs and Climate Action Robert Habeck discussed the idea of enhancing the global hydrogen ramp-up by linking the new European Hydrogen Bank with Germany’s H2Global best-practice initiative.

The proposed European Hydrogen Bank will be able to invest 3 billion euros to help building the future market for hydrogen, European Commission President Ursula von der Leyen said in her State of the Union speech today.