Lara Clarke’s Post

🌱 The results of the European Hydrogen Bank first auction are published! Seven projects across the EU will receive a total of €720 million, with a plan to produce 1.58 million tonnes of renewable hydrogen over the next ten years, avoiding more than 10 million tonnes of CO2 emissions. 🌍The projects are located in Spain, Portugal, Norway, and Finland. 💸They will receive funds per kilogram of hydrogen produced, bridging the gap between current production costs and market demand. 🗓️ Individual grant agreements for the projects are expected to be signed by November 2024, with production starting within five years. This marks a significant step towards a greener, more sustainable future. Stay tuned for further updates and join the conversation on shaping the future of renewable hydrogen production in Europe! 💚 More info ➡️ https://lnkd.in/dq42rYFM #GreenHydrogen #EUGreenDeal #HydrogenAuction #EUfunds #CleanHydrogen #HydrogenEconomy

🌍 The European Commission launches a pivotal €800 million auction under the European Hydrogen Bank. This step is crucial in propelling European renewable hydrogen production, a key component in the EU's energy transition and decarbonization efforts. 🌿💡 🔑 Key Points: Focus on Renewable Hydrogen: The auction aims to support renewable hydrogen production, integral for heavy industry and transport sector decarbonization. 🏭🚚 Bridging the Cost Gap: A premium per kilogram of hydrogen produced will be offered to bridge the gap between production cost and market price, fostering market competitiveness against non-renewable hydrogen. 💵🌿 Enhanced Investment: This initiative complements other policies to stimulate investment and scale up production capacity for renewable hydrogen. 📈🤝 🎯 Objectives: Achieve REPowerEU Plan's goal to produce 10 million tonnes of hydrogen domestically by 2030. 🎯 Facilitate the rollout of innovative hydrogen technologies. 🚀 📝 Auction Mechanics: Renewable hydrogen producers can bid for EU support for a certain production volume. 📊 The premium ceiling is set at 4.5€/kg. 🏷️ Successful projects receive subsidies for up to 10 years. ⏳ 🚫 No Cumulation: Cumulation with other types of aid from Member States is prohibited, ensuring a level playing field. 🚫 🌐 Auctions-as-a-Service: A new mechanism allowing Member States to finance additional projects without running separate national auctions. 🌐 Reduces administrative burdens and costs. 📉 📅 Next Steps: Bidders have until 8 February 2024 to apply. 🗓️ An Info Day on 30 November will provide additional details and Q&A opportunities. 🗣️ 🔮 Impact: A game-changer for the EU’s hydrogen market and decarbonization efforts. 🔮 A strategic move towards a competitive, green energy future. 🌱 #HydrogenEnergy #CleanEnergyTransition #SustainableEurope #InnovationFund #REPowerEU #GreenHydrogen #ClimateAction #EuropeanHydrogenBank #Decarbonization #EnergyInnovation

🚀 European Commission launches pilot mechanism to boost hydrogen market 🌍 📈 Supporting hydrogen development with new pilot mechanism under the Decarbonised Gases and Hydrogen package. 🔄 Enhancing demand-supply visibility for renewable and low-carbon hydrogen via a new IT platform by mid-2025. 💡 Large-scale electrolyzers under construction and first off-take agreements signed, crucial for Green Deal targets and decarbonizing European industry. 🏗️ Establishing a European Multiproduct Platform for strategic commodities. ⚖️ Comprehensive regulatory framework and investments, supporting hydrogen projects and infrastructure. 💸 Successful domestic auction by European Hydrogen Bank, preparing for future auctions. 🔋 254 renewable hydrogen projects in the EU, significant investments to boost production and infrastructure. #Hydrogen #Decarbonization #GreenEnergy #Innovation #SustainableFuture 🌱

🆕 Last week, the European Commission has launched the first #auction under the European Hydrogen Bank to support the production of #renewablehydrogen in Europe. Here are some of the main points: ⬇ 🔹 Auction for Renewable Hydrogen: The Commission launched the first auction under the European Hydrogen Bank to support the production of renewable hydrogen in Europe, with an initial €800 million of emissions trading revenues. 🔹 Fixed Premium per Kilogram: Producers of renewable hydrogen can bid for support in the form of a fixed premium per kilogram of hydrogen produced, up to a ceiling of 4.5€/kg. The premium is intended to bridge the gap between the production cost and the market price of renewable hydrogen. 🔹 Hydrogen Bank Objectives: The Hydrogen Bank aims to stimulate investments in the production capacity, build a market for renewable hydrogen, and help achieve the #repowereu Plan goal to produce 10 million tonnes of hydrogen domestically by 2030. 🔹 Auctions-as-a-Service Mechanism: The Commission also offers a new mechanism that allows Member States to finance projects that have bid in the auction, but not been selected for Innovation Fund support, without the need to run a separate auction at national level.

Today, the European Commission is launching work on the development of a new #HydrogenMechanism under the #EuropeanHydrogenBank. The hydrogen pilot mechanism will collect, process and give access to information on demand and supply for renewable, low-carbon hydrogen and derivatives, allowing European off-takers to match with both European and foreign suppliers. The results of the #EuropeanHydrogenBank auction already showed that we have hydrogen producers and consumers finding each other (see results here: https://lnkd.in/ek6bgWiv), but it is clear that more support is needed to connect producers and suppliers. This is why we are launching a new tender to find a service provider to develop an IT platform to operate the pilot mechanism. The Commission plans to sign a contract by the end of this year, so that it can start its operations by mid-2025. The tender can be found here: https://lnkd.in/eTq3_g2V More info can be found on EU's hydrogen policies can be found here: https://lnkd.in/e5TQtm7g

This is an interesting opportunity for companies and associations who manage databases of Global Hydrogen Projects. After the success of the #EuropeanHydrogenBank auctions a tender is being launched to develop a platform to collect, process and give access to information on demand and supply for renewable, low-carbon hydrogen and derivatives, allowing European off-takers to match with both European and foreign suppliers. Details in the post below. EIC (Energy Industries Council)

📑 Hydrogen auction by the European Hydrogen Bank cleared at only a few cents. It suggests that: - If green electricity is sourced properly, green hydrogen is already economical (as we explained here 👉 https://bit.ly/4a7j0DK) - Especially now that all hydrogen production earns free #EUETS allowances - Ammonia and refining are where green hydrogen is the most profitable - Refineries need to use green hydrogen to meet obligations under the Renewable Energy Directive, so they would have paid for it anyway 💡 So now that we know hydrogen doesn't need so much support, how about a CIRCULARITY bank? Press statement by the European Commission on the results of the first auction of the European Hydrogen Bank: https://bit.ly/3UsC1L6

🌐 Exciting News in the World of Hydrogen! 🌐 Germany has taken a bold step towards advancing the green hydrogen agenda by contributing €350 million to the EU's €800 million pilot auction for the European Hydrogen Bank. This marks the first instance of the initiative's "auctions as a service" model. Under this innovative scheme, any renewable hydrogen producer in Europe can apply for up to €4.50/kg from the €800 million budget, while the additional €350 million is exclusively available to companies with facilities in Germany. The extra budget is subject to state aid regulations, requiring approvals from the EU, though efforts have been made to streamline the process. The pilot auction is set to choose projects for a subsidy in the form of a fixed premium—specifically in EUR/kg of verified and certified RFNBO hydrogen produced. At DEKRA, we play a crucial role in supporting producers throughout the verification and certification process. For more information and detailed insights, feel free to reach out to me. Let's drive sustainable hydrogen initiatives together! https://lnkd.in/dfwyTv2k 🌍💡 #Hydrogen #RenewableEnergy #EUInnovation #dekra

European Hydrogen Bank auction provides €720 million for renewable hydrogen production in Europe I am thrilled to share that the European Commission is taking significant steps towards a greener future with the allocation of nearly €720 million to seven ground-breaking renewable hydrogen projects across Europe. These projects, selected through the inaugural competitive bidding process under the European Hydrogen Bank, mark a pivotal moment in our journey towards sustainable energy solutions. Funded by the EU Emissions Trading System, this initiative aims to bridge the price gap between renewable and non-renewable hydrogen production, thereby accelerating the transition to cleaner fuels. The selected projects will play a vital role in decarbonizing European industries, with renewable hydrogen set to power sectors such as steel, chemicals, maritime transport, and fertilizers. In an oversubscribed auction that attracted 132 bids, these seven projects emerged as pioneers in the field, collectively planning to produce 1.58 million tonnes of renewable hydrogen over the next decade. This ambitious endeavour is projected to prevent over 10 million tonnes of CO2 emissions, significantly reducing our carbon footprint. Spanning across four European countries, these projects submitted competitive bids ranging from €0.37 to €0.48 per kilogram of renewable hydrogen produced. The subsidy awarded to each project reflects their commitment to innovation and sustainability, ranging from €8 million to €245 million. I commend the visionary efforts of these winning bidders and the European Commission for their dedication to fostering a more sustainable future. Together, we are laying the foundation for a cleaner, greener tomorrow. Link - https://lnkd.in/dV8SwEP7 #RenewableEnergy #Sustainability #CleanEnergy #EuropeanCommission #HydrogenRevolution