The European Commission has granted state aid clearance for a EUR 400 million Spanish offer to boost renewable hydrogen production projects. This support scheme will facilitate the construction of up to 345 megawatts of electrolyzer capacity, aiming to produce approximately 221,000 tonnes of renewable hydrogen in Spain. The project aligns with Spain's national goal to install 12 gigawatts of electrolyzer capacity by 2030 and meets the targets set in the European Union's Renewable Energy Directive for renewable fuels. The Spanish offer is part of the European Hydrogen Bank's auction mechanism, which enables EU countries to select projects that participated in the auction but did not secure EU funding. The high demand during this second round of the auction demonstrates significant interest in expanding the renewable hydrogen value chain in the EU. Successful bidders will receive financial support for up to 10 years to promote the production of renewable hydrogen. European Climate Commissioner Wopke Hoekstra emphasized the importance of hydrogen in achieving climate neutrality by 2050, highlighting its role in reducing emissions from challenging sectors. The projects selected through this initiative are expected to contribute significantly to the EU's ambition for domestic renewable hydrogen production by 2030. The evaluation of bids by the European Climate, Infrastructure and Environment Executive Agency is underway, with results scheduled for release in May 2025. Selected projects are required to reach financial close within 2.5 years and start production within five years of signing the grant agreement. This initiative aims to strengthen Europe's industrial leadership in clean technologies and enhance global competitiveness in the green energy sector.