Renewable hydrogen: six projects of 2024 Innovation Fund Auction signed their grant agreements (€270,6M)

Six projects selected in the 2024 Innovation Fund Auction for renewable hydrogen production (IF24 Auction) have signed their grant agreements, announced the Directorate-General for Climate action of the European Commission on 20/01/2026.

The projects are receiving "a total of €270,6M, sourced from EU Emissions Trading System (ETS) revenues. Two of these projects were awarded under the dedicated maritime topic, receiving more than €35 M to supply renewable hydrogen to maritime off-takers".

In total, the projects located in Spain, Finland and Norway, "will install 381,25 MW of electrolyser capacity. The individual grant values range from €135.5M to €1.8M for installations with a megawatt electric (MWe) capacity from 5 to 200 MWe. The awarded projects presented bids going from €0.33 to €1.88 per kilogram of RFNBO Hydrogen", detailed the DG Clima.

The awarded funding "will help these projects bridge the difference between their production costs and the price that industrial users are willing to pay for their product. This market-based design also aims to reduce risks for investors and…