CMS advises H2 Amortisationskonto GmbH on implementing the amortisation account for the hydrogen core network for EUR 24 billion

Hamburg – Another important step has been taken in expanding the German hydrogen core network: On 24 March 2025, H2 Amortisationskonto GmbH received a loan disbursement of around EUR 172 million from the German development bank's (KfW) loan agreement. The funds were passed on as grants to the hydrogen core network operators involved the very next day. The next payment is scheduled for March 2026.

A CMS team led by Dr Marc Riede, Dr Holger Kraft and Nicolai Bischof advised and supported H2 Amortisationskonto GmbH in implementing the legal requirements for the amortisation account for the hydrogen core network, including the complex corporate structuring. In particular, the CMS team oversaw the design, drafting, negotiation and implementation of the bilateral subsidy agreements between H2 Amortisationskonto GmbH and the hydrogen core network operators participating in the amortisation account. In addition, CMS also assisted with and negotiated all other project contracts required for the implementation of the amortisation account in accordance with the provisions of sections 28r, 28s German Energy Act (EnWG).

The largest shareholder of H2 Amortisationskonto GmbH is still Trading Hub Europe GmbH, which acts as a coordinator between the largest German long-distance gas grid companies and is chiefly responsible for the market area. H2 Amortisationskonto GmbH plays a key role in funding the hydrogen core network. The amortisation account serves as a mechanism for financing the investment costs for ramping up the hydrogen market. The closing of the financing from the German development bank (KfW) is an important building block for the financial security of the hydrogen core network operators and will help drive forward the development of the hydrogen core network.

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