The European Commission has allocated €992 million to 15 large-scale renewable hydrogen projects across five EU countries, aiming to cut carbon emissions and fossil fuel reliance.
Announced this week, these initiatives are expected to produce 2.2 million tonnes of green hydrogen in 10 years, potentially avoiding over 15 million tonnes of CO₂ emissions.
This funding is part of the EU’s broader push to decarbonize sectors like transport, chemicals, and heavy industry, where traditional electrification is challenging.
Hydrogen generated using renewable energy sources emits no carbon, making it crucial to the EU’s climate goals and energy independence.
The funding comes through the second European Hydrogen Bank auction, with subsidies between €8 million and €246 million per project over a decade.
Three maritime-focused projects will receive special support, reflecting the higher costs of decarbonizing this critical sector.
Spain, Austria, and Lithuania are also contributing €836 million through the ‘Auctions-as-a-Service’ scheme to support additional projects not funded at EU level.
All funded projects must finalize grant agreements by late 2025 and begin production within five years, with ten years of premium support.
Commissioner Wopke Hoekstra emphasized the competitive pricing and strong industry interest as key indicators of growing hydrogen market maturity.
With another €1 billion auction coming in 2025 and a new matchmaking platform on the way, the EU is cementing its leadership in the global hydrogen economy.