Winning projects in the second round of the EU Hydrogen Bank auction have been announced. Requesting production subsidies similar to first round winners, fifteen renewable hydrogen projects will be funded over ten years, including two ammonia projects led by IGNIS in Spain. A third auction round is set to launch later this year.
More than half the awarded funding goes towards ammonia, including GW-scale projects led by Copenhagen Infrastructure Partners and Moeve. IGNIS has also won funding for its maritime fuel-focused project in Coruña.
IGNIS has signed a development MoU with local authorities for an 800,000 tons per year renewable ammonia project, to be completed in 2031. A €400 million partnership with investment firm KKR will assist project finance.