News 11 Oct. 2023
Curtis Team Instrumental in Shareholder Approval of a New Multilateral Treaty to Transform Pan-African Housing Finance Institution Shelter Afrique into a Development Bank
more
Event 23 Aug. 2023
Partner Borzu Sabahi Speaks at the 52nd IDRI Professional Accreditation & Membership Programme
Event 18 Aug. 2023
Partner Borzu Sabahi Speaks at FDI Moot Shenzhen
News 25 Jul. 2023
Partner Eric Gilioli Ranked in Top 10 Influential Energy & Natural Resources Lawyers in Kazakhstan in Business Today
Article 22 Aug. 2023
Fuad Zarbiyev Publishes Article in Journal of International Economic Law
Client Alert 14 Aug. 2023
The EU’s Market in Crypto Assets (MiCA) Regulation: The Highlights
Event 22 Aug. 2023
Partner Dr. Claudia Frutos-Peterson to Speak at Arbitration and ADR Commission of the ICC Mexico
Event 11 Jul. 2023
Partner Elisa Botero Speaks on the Role of the ICC in Investment Disputes
News 15 Aug. 2023
Legal Reader Publishes Article on Dr. Majed Alotaibi’s Arrival as Senior Counsel in Curtis’ Riyadh Office
News 31 Jul. 2023
Curtis Welcomes Senior Saudi Advisor, Dr. Majed Alotaibi, to its Riyadh Office
News 24 Aug. 2023
Curtis Attorneys Quoted in CoinDesk on FTX Founder Sam Bankman-Fried’s Strategy Ahead of His Criminal Trial
News 06 Mar. 2023
Russia Sanctions at the First Anniversary: An Overview of Current Sanctions in the US, UK, and EU and How Global Companies Can Navigate Evolving and Conflicting Sanctions Regimes
Client Alert 30 Aug. 2022
The EU Adopts the “Maintenance and Alignment” Sanctions Package
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Client Alert 12 Sep. 2023
Recently, the European Commission published the terms and conditions (“T&Cs”) for its pilot auction, focused on scaling up the production of renewable hydrogen in the European Economic Area (“EEA”). The pilot auction is funded by the Innovation Fund, through the EU Hydrogen Bank, with a €800 million budget. The release of the T&Cs is an important milestone in the hydrogen industry, providing potential bidders with information to begin preparing their bids, and giving other regions of the world a preview of how hydrogen financing can develop in the future.
The pilot auction is designed to achieve several objectives
The main goal of the pilot auction is to support the scale-up of production of renewable fuel of non-biological origin (“RFNBO”) hydrogen within the EEA. In addition, this competitive bidding mechanism is used with four objectives:
Bidders need to fulfill qualification requirements
The T&Cs set forth the qualification requirements that bidders must meet in order to have their bids evaluated. The qualification requirements, comprising admissibility, eligibility, and relevance and quality requirements, are designed to ensure that bidders have the capacity to implement the project, that the project is sufficiently advanced, and that participation in the pilot auction will not be used for speculative bidding.
The above qualification requirements will be assessed on a pass/fail basis.
Funding will be awarded for up to ten years of operation in the form of a fixed premium
Funding will be granted in the form of a fixed premium in €/kg of RFNBO hydrogen produced, and guaranteed for up to ten years after the entry into operation of the project. Awarded projects will enter into a grant agreement with the European Climate, Infrastructure and Environment Executive Agency (“CINEA”), the scheme’s implementing authority.
The Innovative Fund is financed by the EU ETS
The Innovative Fund is one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. It is financed by the EU Emissions Trading System (“EU ETS”), which collects revenue from EEA polluters who must pay for their greenhouse gas emissions. The Innovative Fund’s support in renewable hydrogen projects should be seen as the seed funding that allows for increased private and corporate investments.
Please note that the pilot auction is scheduled to start on November 23, 2023 and close on February 8, 2024 (estimated).
Hydrogen
Renewable/Green Energy
Elisa Botero
Partner
Maria Paulina Santacruz Salazar
Associate
New York
+1 212 696 6000
Bogotá
+57 (1) 485 0854
Event 07 Jun. 2023
Elisa Botero Speaks on Latin America’s H2 Potential at AIEN’s International Energy Summit
We use cookies on our website to enhance your browsing experience, match your interests and assess our website performance. We do not share information with any third-party for marketing purposes. Please view our privacy policy to learn more about the use of cookies on our website. By continuing to browse our website, you consent to our use of cookies.