Third EU Hydrogen Bank Auction Awards €1.09 Billion to Nine Projects

The European Hydrogen Bank announced results from its third competitive auction on May 7, awarding €1.09 billion in funding to nine projects across three baskets. The auction received 58 total bids, representing over 7 times oversubscription.

Winning projects will deliver nearly 1.1GW in electrolyser capacity and produce 1.3 million tonnes of renewable fuel of non-biological origin (RFNBO) and low-carbon electrolytic hydrogen over their first decade of operation, with estimated CO2 avoidance of 9 million tonnes.

The first basket focused on RFNBO hydrogen production and was heavily oversubscribed with 50 projects competing for €600 million. Five projects across Greece, Spain, Denmark, and Austria won with bids ranging from €0.57/kg to €0.98/kg. The second basket received five bids for €400 million in funding, with two successful projects in Finland and Germany awarded €379 million at €0.44/kg and €1.1/kg respectively. The third basket, targeting maritime and aviation offtakers, was undersubscribed with three submissions; two Norwegian projects won €124 million at €3.48/kg and €3.49/kg.

Additional projects under the Auction-as-a-Service mechanism include six projects in Spain and Denmark supported by €1.3 billion from Germany and €440 million from Spain. Successful projects must achieve financial close within 2.5 years of grant agreement signature and operational status within five years, with agreements expected in Q4 2026.

Originally reported by Hydrogen Europe. Read the full article →