Skip to main content

EU announces next steps for European Hydrogen Bank

Published by , Editorial Assistant
Global Hydrogen Review,

Speaking at European Hydrogen Week 2023, President of the European Commission (EC), Ursula von der Leyen, has announced the launch of a second round of hydrogen auctions for Spring 2024, reaching a total value of €3 billion.

The EC President said: "It is a promise we made one year ago, and it is now becoming reality. In parallel, we are also working on the international leg of the European Hydrogen Bank. This will secure diversified imports of renewable hydrogen from reliable suppliers abroad."

New initiatives were also discussed at Hydrogen Week, including EC projects with Kazakhstan, Australia, Oman, as well as a Brazilian hydrogen project. Von der Leyen said: "Together with President Lula of Brazil, we are announcing the EU's support to build one of the biggest hydrogen projects in the world, in the Brazilian State of Piaui. It is part of a €2 billion Global Gateway investment in the hydrogen value chain in Brazil. This new Green Energy Park will be a 10 GW production facility for clean hydrogen and ammonia, which will then be shipped to the island of Krk in Croatia. From there, hydrogen will travel to serve industrial off-takers in South-East Europe. And in parallel, this project will create local jobs and value chains in Brazil."

The speech also highlighted the importance of public investments in helping to attract and mobilise private capital to drive the energy transition, as well as the EC's plan to create a public platform to support hydrogen producers and consumers in the EU, "where consumers can indicate their demand and producers can find their off-takers."

Read the article online at:

You might also like


Embed article link: (copy the HTML code below):