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POWER: EC Approves €436mn Funding for Renewable Hydrogen in Austria, Lithuania

POWER
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 The EC has approved €436mn of funding for renewable hydrogen production in Austria and Lithuania, with funds given in a competitive bidding process due to end in 1Q25, the EC said.

  • Austria will receive €400mn to support the production of 112,000t of renewable hydrogen.
  • Lithuania will get the remainder of the funds, which will lead to the production 36,000t of hydrogen.
  • The hydrogen capacity is expected to reduce CO2 emissions by 536,000t in Austria and 61,000t in Lithuania.
  • The aid provided will be in the form of direct grants per kilogram of hydrogen produced, with a maximum duration of 10 years.
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 The EC has approved €436mn of funding for renewable hydrogen production in Austria and Lithuania, with funds given in a competitive bidding process due to end in 1Q25, the EC said.

  • Austria will receive €400mn to support the production of 112,000t of renewable hydrogen.
  • Lithuania will get the remainder of the funds, which will lead to the production 36,000t of hydrogen.
  • The hydrogen capacity is expected to reduce CO2 emissions by 536,000t in Austria and 61,000t in Lithuania.
  • The aid provided will be in the form of direct grants per kilogram of hydrogen produced, with a maximum duration of 10 years.