The European Commissioner for energy Kadri Simson and Germany’s economy minister Robert Habeck sent public letter calling on #EU member states to join the ‘H2 Global’ program in order to strengthen the bloc’s #hydrogen projects, reports Handelsblatt. Habeck and Simson urged member states to get involved in the initiative, which Germany set up to help the ramp-up of the green hydrogen market. The idea is to bundle the buying power of EU states to procure the fuel on the world market. Under #H2Global, green hydrogen or derivatives are purchased abroad through auctions from the bidder asking for the lowest price, and resold in Europe to the highest bidder, also via auctions. Government funds will be used to compensate for the difference between the purchase price of the hydrogen and the domestic sales price. Habeck and Simson wrote that all member states could benefit from the initiative, and joint auctions could serve as a signal to hydrogen producers that a strong European market is emerging, the Clean energy wire reports.
EU and German officials call on member states to advance hydrogen initiative ‘H2 Global’
