The European Commission has selected nine renewable hydrogen production projects under the third auction of the European Hydrogen Bank (EHB), awarding approximately €1.09 billion in funding to accelerate Europe’s clean energy transition.
The selected projects span seven countries within the European Economic Area and include developers such as Hellenic Hydrogen, Hy2gen Nordic, and Gen2 Energy.
Together, the projects are expected to deliver:
- Nearly 1.1 GW of electrolyzer capacity
- Production of over 1.3 million metric tons of renewable hydrogen during their first 10 years of operation
- An estimated reduction of 9 million metric tons of CO₂ emissions
Funding will be provided through the EU Innovation Fund, supported by revenues from the EU Emissions Trading System (ETS).
Selected projects will receive fixed premiums ranging from €0.44/kg to €3.49/kg of certified renewable hydrogen for up to 10 years.
In addition, Germany and Spain will contribute another €1.7 billion through the Auctions-as-a-Service mechanism:
- Germany: up to €1.3 billion
- Spain: up to €440 million
Project agreements are expected to be signed in Q4 2026, with commercial operations required to begin within five years.
VietnamSteel by Hoa Sen Group
