The European Commission has initiated its first pilot auction under the European Hydrogen Bank to support the development of the renewable hydrogen market. This is part of the EU's efforts to scale up hydrogen production, with plans to achieve 10 million tons of domestic production and 10 million tons of hydrogen imports by 2030. The auction allows producers of renewable hydrogen to bid for support in the form of a fixed premium per kilogram of hydrogen produced, with the intention of bridging the cost gap between renewable and non-renewable hydrogen. The pilot will inform data collection and future rounds of auctions.

Source: ESGToday