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28 February 2024Austria plans to support domestic renewable hydrogen producers with a €400m ($432m) subsidy package backed by the European Hydrogen Bank (EHB).
The Ministry of Climate Protection (BMK) and Ministry of Finance (BMF) intend to launch a renewable hydrogen auction round under the EHB’s Auction-as-as-Service (AaaS) scheme, to provide a fixed premium per kilogramme of hydrogen to subsidise production.
A corresponding draft law – the Hydrogen Promotion Act – was being reviewed by the BMK on Monday (February 26) to enable the national funding.
It will allow Austria to finance projects that have not been selected by the EU-wide Innovation Fund-backed EHB auction, which closed earlier this month (February 2024).
