Germany to provide EUR 588m for H2Global tenders with Australia, Canada
Germany’s economy ministry has committed up to EUR 588 million (USD 605.5m) for two bilateral tenders with Canada and Australia as part of the H2Global instrument which facilitates the export of green hydrogen to Europe.The move follows previous declarations of intent signed by Germany, Canada and Australia in 2024. With funds provided by Australia and Canada, the total volume for both tenders is expected to reach up to EUR 1.2 billion, German state-owned company Hintco, which is the implementing entity behind the H2Global initiative, said.H2Global is based on a double auction model. The process involves the award of procurement contracts to producers selected through tenders as a first step. The procured quantities are then resold in Germany or other European countries through auctions to the highest bidder. As part of the model, the difference between the buying and the selling price is offset via grants.Hintco said that it will provide information on the planned tender processes when Germany receives state aid notification for each of the bilateral tenders from the European Commission (EC).Germany, which has joined forces with the Netherlands as an importing country, plans an overall round of tenders with a total volume of EUR 3 billion, a scheme that was approved by the EC in December.The pilot H2Global auction round was initiated at the end of 2022 with three lots dedicated to green ammonia, methanol and e-sustainable aviation fuel (SAF). UAE-based fertiliser company Fertiglobe was selected as the winner of Lot 1 from a pool of five finalists.(EUR 1 = USD 1.03)
Germany’s economy ministry has committed up to EUR 588 million (USD 605.5m) for two bilateral tenders with Canada and Australia as part of the H2Global instrument which facilitates the export of green hydrogen to Europe.
The move follows previous declarations of intent signed by Germany, Canada and Australia in 2024. With funds provided by Australia and Canada, the total volume for both tenders is expected to reach up to EUR 1.2 billion, German state-owned company Hintco, which is the implementing entity behind the H2Global initiative, said.
H2Global is based on a double auction model. The process involves the award of procurement contracts to producers selected through tenders as a first step. The procured quantities are then resold in Germany or other European countries through auctions to the highest bidder. As part of the model, the difference between the buying and the selling price is offset via grants.
Hintco said that it will provide information on the planned tender processes when Germany receives state aid notification for each of the bilateral tenders from the European Commission (EC).
Germany, which has joined forces with the Netherlands as an importing country, plans an overall round of tenders with a total volume of EUR 3 billion, a scheme that was approved by the EC in December.
The pilot H2Global auction round was initiated at the end of 2022 with three lots dedicated to green ammonia, methanol and e-sustainable aviation fuel (SAF). UAE-based fertiliser company Fertiglobe was selected as the winner of Lot 1 from a pool of five finalists.
(EUR 1 = USD 1.03)
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