Germany first to take advantage of European Hydrogen Bank financing scheme – ICIS.
Germany will become the first member state to participate in the EU’s voluntary auctions-as-a-service scheme under the European Hydrogen Bank (EHB).
Germany will make a total of €350m available from its national budget, which will be combined with the €800m of funding for the first EHB auction which opened in late November.
A second EHB auction was announced on 20 November which will take place in the spring of 2024, which will boost total financing from the European Commission to €3bn.
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The auctions-as-a-service scheme enables member states to contribute their own financial resources for awarding support to projects located within their territory, meaning that the €350m from Germany will only be available to projects in that country.
Project developers must express their interest in using the auctions-as-a-service mechanism in their bid.
The Commission invited other member states to follow Germany in taking up the scheme.
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Germany first to take advantage of European Hydrogen Bank financing scheme – ICIS. source
