EU boosts renewable energy with €1.2b hydrogen auction

The European Commission launched on Tuesday its second auction under the European Hydrogen Bank, allocating €1.2 billion from EU Emissions Trading System revenues to support renewable hydrogen production.

Known as the IF24 Auction, the initiative focuses on producers of Renewable Fuel of Non-Biological Origin (RFNBO) within the European Economic Area (EEA).

The auction includes €1 billion for renewable hydrogen production across all sectors and €200 million for projects serving the maritime industry.

With an increased budget of €400 million compared to the first IF23 Auction, this round aims to accelerate the EU’s green energy transition.

The commission also introduced an “Auctions-as-a-Service” mechanism, enabling member states to fund high-quality projects not selected due to budget constraints.

Spain, Lithuania, and Austria have pledged up to €836 million in national funds under this programme, further supporting renewable hydrogen initiatives.

This auction underscores the EU’s commitment to advancing clean hydrogen technology as part of its climate-neutral ambitions.

Attribution: The European Commission

Subediting: M. S. Salama