Energy Transition, Emissions, Hydrogen
January 20, 2026
EC signs grants with just 6 projects under second hydrogen bank auction
HIGHLIGHTS
EC signs grant agreements for just 380 MW electrolysis
Winning bids range Eur0.33-1.88/kg for green hydrogen
Falls short of initial 2.3 GW of winning projects securing Eur1 bil
The European Commission has signed grant agreements with just six projects under its second European Hydrogen Bank auction, allocating a total of Eur270 million ($317 million) to support 380 MW of electrolysis, the EC said in a statement on Jan. 20.
The award falls far short of the original budget of Eur1 billion which was to support 2.3 GW of electrolysis. The EC confirmed to Platts, part of S&P Global Energy, that this was the final grant agreement list for the second auction.
The final project list of six projects secured fixed premium bid prices of 33-85 euro cent/kg (US 38-99 cents/kg) for the general category and Eur0.45-1.88/kg in the maritime category.
The successful projects were from Finland, Norway and Spain, echoing the results of the first auction which saw winners concentrated in the low-cost renewable electricity regions of the Nordics and Iberian Peninsula.
The hydrogen will meet EU Renewable Fuel of Non-Biological Origin criteria, and is expected to serve hard-to-electrify sectors such as the chemical industry and heavy transport, the EC said.
Platts assessed the cost of EU-compliant green hydrogen production via alkaline electrolysis in Spain, backed by renewable power purchase agreements, at Eur10.23/kg on Jan. 20.
The EC had invited a further 10 projects from the reserve list to prepare grant agreements after most of the initial successful project capacity withdrew, with total capacity of remaining and reserve projects reaching just 1.2 GW, but not all of these signed grant agreements.
The EC said the remaining budget would go towards future auction rounds.
A third auction opened in December, with a budget of Eur1.3 billion. The deadline for applications is Feb. 19.
European Hydrogen Bank 2 final project list
| Project name | Coordinator | Country | Bid volume ('000 mt/10 years) | Expected GHGavoidance* ('000 mt/10 years) | Bid price (Eur/kg) | Bid capacity (MW) |
| GENERAL TOPIC | ||||||
| Kristinestad PtX | Koppö Energia Oy | Finland | 258 | 1,763 | 0.33 | 200 |
| H2CRI | GREEN DEVCO ENERGY 6, S.L.U. | Spain | 30 | 204 | 0.44 | 30 |
| NOON | IBERDROLA CLIENTES | Spain | 161 | 1,104 | 0.84 | 120 |
| GH2Move-VLC | Diverxia Infraestructuras S.L | Spain | 2 | 15 | 0.85 | 5 |
| MARITIME TOPIC | ||||||
| RjukanH2 | NORWEGIAN HYDROGEN AS | Norway | 29 | 201 | 0.45 | 18.75 |
| HammerfestH2 | GREEN H AS | Norway | 12 | 80 | 1.88 | 7.5 |
*Calculated based on the 2021-2025 ETS benchmark of 6.84 mtCO2e/mtH2, not taking into account additional carbon abatement due to substitution effects in the hydrogen end-use application
Source: European Commission
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