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🌊 Hydrogen Auction Opportunities in Europe and Texas 💡
The European Commission is set to launch its second auction for renewable hydrogen (IF24 Auction) on December 3, 2024, offering up to €1.2 billion in support to producers in the European Economic Area (EEA). Successful bidders will receive a fixed premium for hydrogen produced over ten years.
A study from Germany's Fraunhofer Institute highlights potential savings of €4.3 billion annually through offshore hydrogen production on two energy islands, while the University of Houston sees Texas as a contender for "global hydrogen dominance," aiming for 21 million tons of clean hydrogen production by 2050.
In Utah, Mitsubishi Power and Chevron New Energies are advancing hydrogen storage solutions at the ACES Delta Hub, with plans for a 100% hydrogen gas turbine plant by 2045.
Additionally, the European Commission is seeking feedback on new regulations to clarify the evaluation of emissions savings for low-carbon hydrogen and fuels. 🚀🌍
The Hydrogen Stream: EU launches second hydrogen auction – pv magazine International
While different institutions are making the case for hydrogen production offshore or in proximity to the coast, the European Commission is preparing to move forward with its second hydrogen auction.