By Anna Lorant and Guillaume Morauw
The European Hydrogen Bank, a financing instrument that supports renewable hydrogen production within the EU and internationally, has just announced a €1.2 billion investment to help boost the renewable hydrogen economy, a cornerstone of the EU’s strategy to achieve climate neutrality by 2050. While many are focusing on how this can help to meet hydrogen production targets, it’s important to remember that how we deploy hydrogen also matters. Whether or not hydrogen will actually deliver climate benefits depends on the detail, and that is why all eyes are on the Terms and Conditions of the second Hydrogen Bank Auction, as a significant instrument to scale up the European hydrogen market.