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Austria set to invest €400 mn for domestic green hydrogen projects

Image for representation purposes only. Source: Austria

Austria is working on a new subsidy package that aims to pump in €400 million for renewable hydrogen production in the country, via the EU sponsored European Hydrogen Bank's (EHB) Auction-as-as-Service (AaaS) scheme. 

The country's Ministry of Climate Protection (BMK) and Ministry of Finance (BMF) are planning to conduct the auction during the next €2.2 billion EHB funding round under the AaaS scheme in the coming months. 

This will allow those renewable hydrogen projects were not selected by the EU Innovation Fund backed auction, that closed early this month. Media reports suggests that BMK is currently reviewing the draft 'Hydrogen Promotion Act' to enable national funding. 

Austria has set 1 GW of renewable hydrogen production capacity target by 2030, as part of its national hydrogen strategy. The country aims to decarbonize 80 percent of its carbon intensive hydrogen production with renewable hydrogen, while also gradually cleaning hard-to-electrify sectors. 

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Understanding the paramount importance of hydrogen in achieving its climate goals, the country is also proactively addressing the cost barriers to boost industrial competitiveness, by enabling additional financial support to complement its national investments.

"Climate-neutral hydrogen plays an important role in our climate and energy goals," said Leonore Gewessler, Minister of BMK, as reported by Hydrogen Insight. "To ensure that Austria remains competitive in those areas that need hydrogen for their processes or that are difficult to electrify, such as energy-intensive industry and shipping and air traffic, it is important to invest with foresight now", he added.

Apart from meeting climate goals, Austria's strategy aims to position the country at the forefront of the emerging green hydrogen sector in the European region. Following the footsteps of Germany, the country is likely to be the second EU member state to offer incentives for green hydrogen production.

The country is also in talks with Germany's 'H2Global' green hydrogen subsidy scheme, to set up Austria's own auction for non-EU imports from international firms as per media reports.

(With inputs from Hydrogen Insight and H2 View)

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