Green Hydrogen NewsGreen Hydrogen News
    Facebook Twitter Instagram
    Trending
    • Cepsa and Ibereólica Unite to Fuel Andalusia’s Renewable Energy Growth
    • Rio Grande do Sul’s Partners with EN.IT to Develop Wind Farm for Hydrogen Production
    • BalticSeaH2 Project to Energize the Baltic Sea Region
    • Europe’s Auction to Drive Renewable Hydrogen Production
    • MoIAT, ADNOC, John Cockerill and Strata Collaborate on Green Hydrogen
    • Luxembourg and Portugal Unite for Renewable Hydrogen Corridor
    • Ohmium and NTPC Forge Path to Green Hydrogen Revolution in India
    • L&T Takes Center Stage in NEOM’s Ambitious Green Hydrogen Endeavor
    LinkedIn Twitter YouTube Facebook
    Green Hydrogen NewsGreen Hydrogen News
    • NEWS
      • Authorities
      • Blitz
      • Breaking News
      • Finance
      • Jobs
      • H2 Plant
      • Politics
      • Press Release
      • Sponsored
      • Stock
      • Tenders
      • Video
    • HYDROGEN
      • Aviation
      • Electrolyzers
      • Fuel Cells
      • Green Hydrogen
      • Hydrail
      • Innovation
      • Pipelines
      • Projects
      • Stations
      • Storage
      • Technology
      • Vehicles
    • SPOTLIGHT
      • Analysis
      • Interviews
      • Podcast
      • Research
      • Reviews
      • Specials
      • Webinars
    • REGIONAL
      • Africa
      • Americas
      • Asia
      • Europe
      • Middle east
      • Pacific
    • CONTACT
    • ADVERTIZE
    • SUBSCRIBE
    Green Hydrogen NewsGreen Hydrogen News
    Home»NEWS»Finance»European Hydrogen Bank to become operational by year end
    European Hydrogen Bank to become operational by year end

    European Hydrogen Bank to become operational by year end

    Anela DoksoBy Anela Dokso17/03/20232 Mins Read
    Share
    LinkedIn Twitter Facebook Email WhatsApp Telegram

    The European Commission (EC) announced that the European Hydrogen Bank will be operational by the end of the year and based on four pillars.

    The bank’s goal is to connect renewable hydrogen supply with European off-takers’ rising demand, according to EC message. Imports and domestic production will benefit.

    Two of the four bank pillars in the letter are new funding instruments to boost EU and global production. The Commission is designing renewable hydrogen pilot auctions for the first one. In autumn 2023, the first auction will cost EUR 800 million. Hydrogen producers will receive a fixed bonus per kg of hydrogen generated for 10 years.

    The second pillar auctions imports. Third-country suppliers or EU off-takers contracting with third-country producers might qualify for a green premium.

    Transparency and coordination—assessing demand, infrastructure needs, hydrogen flows, and cost data—are the third and fourth bank pillars. The fourth involves coordinating and combining current financial instruments with new public and private investment in the EU and abroad.

    The REPowerEU strategy from a year ago called for 10 million tonnes of renewable hydrogen production and the equivalent amount of imports by 2030.

    To create, transport, and consume 10 million tonnes of renewable hydrogen, the EU would need EUR 335 billion to EUR 471 billion, including EUR 200 billion-300 billion for extra renewables. To meet import quantities, worldwide value chains will need EUR 500 billion. The Commission observed that private finance will account for most hydrogen industry investment.

    European Commission European Hydrogen Bank green hydrogen hydrogen
    Share. LinkedIn Twitter Facebook Email

    Related Posts

    Cepsa and Ibereólica Unite to Fuel Andalusia’s Renewable Energy Growth

    01/06/2023

    Rio Grande do Sul’s Partners with EN.IT to Develop Wind Farm for Hydrogen Production

    01/06/2023

    BalticSeaH2 Project to Energize the Baltic Sea Region

    01/06/2023

    Europe’s Auction to Drive Renewable Hydrogen Production

    01/06/2023

    MoIAT, ADNOC, John Cockerill and Strata Collaborate on Green Hydrogen

    01/06/2023

    Luxembourg and Portugal Unite for Renewable Hydrogen Corridor

    01/06/2023

    Cepsa and Ibereólica Unite to Fuel Andalusia’s Renewable Energy Growth

    01/06/2023

    Rio Grande do Sul’s Partners with EN.IT to Develop Wind Farm for Hydrogen Production

    01/06/2023

    BalticSeaH2 Project to Energize the Baltic Sea Region

    01/06/2023

    Europe’s Auction to Drive Renewable Hydrogen Production

    01/06/2023

    Subscribe to Updates

    Get the latest news from the hydrogen market subscribe to our newsletter.

    Final Transparent Green Logo (horizontal)-desktop version (RGB)
    LinkedIn Twitter Facebook YouTube

    News

    • Inteviews
    • Webinars
    • Hydrogen
    • Spotlight
    • Regional

    Company

    • Information
    • Advertising
    • Media Kits
    • Contact Info
    • GDPR Policy

    Subscriptions

    • Subscribe
    • Newsletters
    • Sponsored News

    Subscribe to Updates

    Get the latest news from EnergyNewsBiz about hydrogen.

    © 2023 EnergyNews.biz
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.