INTIEAEuropean Union · European Hydrogen Bank and the associated auctionsPolicyIn force

European Hydrogen Bank and the associated auctions

In 2022, the European Commission launched the European Hydrogen Bank to create investment security and business opportunities for European and global renewable hydrogen production. It is not designed to be a physical institution, but is a financing instrument, run internally by…

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EffectiveJan 01, 2022
Last changeJul 11, 2025

Country / jurisdiction: European Union · Year: 2022 · Status: In force · Level: International · Type: Voluntary

In 2022, the European Commission launched the European Hydrogen Bank to create investment security and business opportunities for European and global renewable hydrogen production. It is not designed to be a physical institution, but is a financing instrument, run internally by European Commission service, aiming to accelerate the establishment of a full hydrogen value chain in Europe.

In 2024, the European Commission launched the second European Hydrogen Bank auction with a budget of around USD 1.3 billion for 10-year offtake contracts (from the Innovation Fund), including USD 1.1 billion for projects across all end-uses and a dedicated USD 220 million for maritime uses. Applicants evaluated by the European Commission can directly get privileged access to support from EU Member states (so-called Auctions-as-a-Service), a model to which Austria (around USD 440 million), Spain (around USD 300 million to USD 440 million) and Lithuania (around USD 40 million) have committed funding.

A third European Hydrogen Bank auction is planned for end 2025 with a budget of up to €1 billion.

Official source: https://energy.ec.europa.eu/topics/eus-energy-system/hydrogen/european-hydrogen-bank_en

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https://www.iea.org/policies/27456

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