IF24 Auction

Auction design

Unlike regular grants, auctions are market-based instruments for funding innovative low-carbon technologies under the Innovation Fund.

The implementation of the Fund’s renewable hydrogen auctions is the domestic pillar of the European Hydrogen Bank (EHB), which establishes a financing and coordination platform to secure cost-efficient and renewable hydrogen across Europe.

Awarded projects

The Commission selected the following 15 projects to receive funding for the production of RFNBO (renewable fuel of non-biological origin) hydrogen. These projects must reach financial close within 2.5 years and start production within 5 years of signing their grant agreements. They will only be awarded their fixed premium subsidy for up to 10 years upon certification and verification of renewable hydrogen production.

Project Name	Coordinator	Country	Bid Volume (hydrogen kilotonne over 10 years)	Bid Capacity (Megawatts electric)	Expected GHG avoidance (kilotonnes of CO₂ equivalent over 10 years)**	Bid Price (EUR/kg)
General topic
VILLAMARTIN H2	GALENA RENOVABLES 6, S.L.	Spain	126	252	859	0.2
PUERTO SERRANO H2	GALENA RENOVABLES 7, S.L.	Spain	49	98	337	0.25
Kristinestad PtX	Koppö Energia Oy	Finland	258	200	1.763	0.33
SolWinHy Cadiz	Viridi RE GmbH	Spain	63	80	431	0.4
H2LZ	IGNIS HIDROGENO ALFA	Spain	26	20	179	0.41
AGS	ARMONIA GREEN SEVILLA	Spain	238	198	1.631	0.41
AGG280	ARMONIA GREEN GALICIA, S.L.	Spain	238	198	1.629	0.42
H2CRI	GREEN DEVCO ENERGY 6, S.L.U.	Spain	30	30	204	0.44
KASKADE	Meridiam SAS	Germany	354	367.5	2.424	0.45
H2-Hub Lubmin	H2-Hub Lubmin GmbH	Germany	238	210	1.628	0.47
TORDESILLASH2	Elawan Energy	Spain	17	15	115	0.48
Zeevonk electrolyser	Zeevonk Electrolyser	Netherlands	411	560	2.812	0.6
Maritime topic
RjukanH2	NORWEGIAN HYDROGEN AS	Norway	29	18.75	201	0.45
Gen2-LH2	Gen2 Energy AS	Norway	104	82.21	714	0.59
HammerfestH2	GREEN H AS	Norway	12	7.5	80	1.88

** Calculated based on the 2021-2025 ETS benchmark of 6.84 tons CO₂e/tH₂, not taking into account additional carbon abatement due to substitution effects in the H₂ end use application (i.e conservative estimate)

Results of IF24 Auction

The IF24 Auction opened on 3 December 2024 and closed on 20 February 2025. The Auction saw a total of 61 bids submitted, including 8 for the maritime topic. The bidding projects span across 11 countries, collectively requesting a grant amount of €4.88 billion to support the deployment of 7.3 million tons of renewable hydrogen production over a maximum period of 10 years, alongside the total installation of 6.3 GWe of electrolysers.

To access further resources on the application process, please follow the provided links below.

Beyond winning projects

Check our slides to learn more about the auction’s full results.

Timeline

20/05/2025
Publication of Auction Results
The Commission selected 15 renewable hydrogen production projects to receive a total of €992 million in EU support, with individual subsidies ranging from €8 million and €246 million.
There were 12 projects selected under the general topic that will receive support ranging from €0.20 and €0.60 per kilogramme of renewable hydrogen produced. Three maritime projects will receive support between 0.45 to €1.88 per kilogramme.
20/02/2025
Deadline to submit all applications
When the Auction closed, it received a total of 61 bids, including 8 for the maritime topic. The bidding projects span across 11 countries, collectively requesting a grant amount of €4.88 billion. The projects were then evaluated by Fund’s implementing body, the European Climate, Infrastructure, and Environment Executive Agency (CINEA).
10/12/2024
IF24 Auction Info Day
- Presentation and recording
03/12/2024
Auction Opening
The Auction opened with a total budget of €1.2 billion, including a novel dedicated budget of €200 million for projects with off-takers in the maritime sector.
18/11/2024
Spain, Lithuania and Austria join ‘Auctions-as-a-Service'
These Member States will collectively deploy a total over €8800 million in national funds to support renewable hydrogen production projects located in their countries.
14/11/2024
Innovation Fund Expert Group Meeting
- Presentation of the IF24 Auction after stakeholder feedback.
27/09/2024
Publication of the IF24 Auction Terms and Condition
- IF24 Auction Terms and Condition
27/06/2024
Innovation Fund Expert Group Meeting
A Presentation of the IF23 Auction results and the draft IF24 Auction’s Terms and Conditions and Auctions-as-a-Service
12/06/2024
Innovation Fund Stakeholder Consultation
An event to present the draft Terms and Conditions for the IF24 Auction and to collect feedback from stakeholders.