Austria's government has approved legislation to subsidize renewable hydrogen production, allocating €400 million in fixed-premium subsidies for 2024, with an additional €420 million planned for 2025-26. These funds will be distributed through a competitive bidding system, potentially using the European hydrogen bank's "auction-as-a-service" scheme. This allows EU states to allocate funds domestically, with a second auction expected later this year. The law, which is now under parliamentary review, supports projects that could start between 2027 and 2030. The government anticipates that the €820 million budget will facilitate the production of 18,000-40,000 tons per year of renewable hydrogen, aiming for subsidy costs between €2 and €4.50 per kilogram.
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