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The EU has awarded €270.6 million to six green hydrogen projects in Spain, Finland, and Norway as part of the 2024 Innovation Fund Auction, aiming to produce approximately 500 kilotonnes of renewable hydrogen and reduce CO₂ emissions by nearly 3.4 million tonnes over a decade. These projects, with a combined electrolyser capacity of 381.25 megawatts, will receive funding to help cover production costs for industrial users. The next Innovation Fund Hydrogen Auction is set for February 19, 2026, with a budget of €1.3 billion.