22 February 2024
Massive boost for green hydrogen exporters as Germany allocates €3.5bn to H2Global auction subsidies
The German government is to transfer more than €3.5bn ($3.8bn) to the country’s pioneering green hydrogen purchasing programme, H2Global, in order to fund further subsidy auctions for renewable H2 and its derivatives this year, the company tasked with managing the scheme has announced last week.
The grant brings the total contribution from the German government so far to €4.45bn, including the €900m promised for the scheme’s recent pilot auction, close to the “more than €5bn” promised by Berlin last year, which was itself built on an earlier pledge of €4bn.
Foto BMWK