Hy2gen Nordic AS, a subsidiary of the global renewable hydrogen producer Hy2gen AG announced on June 25 that its Albatros renewable hydrogen project has been selected for support under the European Hydrogen Bank (EHB), an E.U. financing instrument for the hydrogen value chain. The support recognizes the project’s potential contribution to Europe’s energy transition, industrial decarbonization and the renewable hydrogen economy, Hy2gen says.
Located in Kassø, Denmark, the project will feature a planned 100 MW electrolyzer facility producing RFNBO-certified hydrogen for industrial customers in Germany and the wider European market. Over a ten-year period, Albatros is expected to produce approximately 144,000 tons of renewable hydrogen, avoiding an estimated 986,000 tons of CO₂-equivalent emissions while supporting the decarbonisation of hard-to-abate sectors.
The project was selected through the European Hydrogen Bank’s competitive auction process with a bid of €0.97 per kilogram of renewable hydrogen produced. The European Hydrogen Bank supports renewable hydrogen projects by awarding a production-based premium, selected through a competitive auction in which bidders propose the lowest premium per kilogram needed to make their project commercially viable. Albatros secured a premium of €0.97 per kilogram for its first ten years of operation, one of the most competitive bids in the current auction round. The resulting premium will help narrow the cost gap between renewable hydrogen and conventional alternatives, supporting Europe’s transition to a low-carbon industrial economy.
Construction of Albatros is planned to start in 2028, with operations beginning in 2031. In the coming months, Hy2gen will move forward with technical development, permitting, and continue the dialogue with the municipality and local stakeholders.
