The European Commission has greenlit a €350 million initiative by Germany aimed at bolstering the production of renewable hydrogen, Trend reports via the Commission.
This initiative, facilitated through the innovative "Auctions-as-a-Service" tool of the European Hydrogen Bank, aligns closely with the objectives outlined in the REPowerEU Plan and the European Green Deal Industrial Plan. By facilitating this scheme, Germany aims to not only reduce its dependence on Russian fossil fuels but also accelerate the transition towards sustainable energy.
Key Details of the German Scheme:
Germany formally notified the European Commission of its proposal to implement a €350 million scheme focused on supporting renewable hydrogen production through the "Auctions-as-a-Service" tool within the European Hydrogen Bank. This approved initiative is poised to bolster the construction of up to 90 MW of electrolysis capacity, with an anticipated production of approximately 75,000 tonnes of renewable hydrogen. Such efforts align with Germany's ambitious target of achieving at least 10 GW of domestic electrolysis capacity by 2030, contributing significantly to the EU's broader goal of reaching a minimum of 42.5% renewable energy production by the same year, with aspirations of reaching 45%.
Transparent and Competitive Process:
The allocation of aid under this scheme will be conducted through a rigorous competitive bidding process overseen by the European Climate, Infrastructure, and Environment Executive Agency (CINEA). Bidding officially concluded on 8 February, with the Agency presently engaged in the evaluation and ranking of project proposals from Member States. Notably, support provided through this German initiative will be accessible to companies intending to establish new electrolysers within Germany.
Form and Duration of Aid:
Under this scheme, financial aid will be disbursed in the form of direct grants per kilogram of renewable hydrogen produced, with a maximum duration of ten years. Beneficiaries are mandated to demonstrate adherence to EU criteria governing the production of renewable fuels of non-biological origin (RFNBOs). This entails demonstrating a commitment to the deployment or funding of additional renewable electricity necessary for the production of hydrogen supported by the scheme.
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