Plug Power to develop three green hydrogen plants in Finland
US-based Plug Power says it plans to build three green hydrogen production plants in Finland, unlocking 2.2 gigawatts of electrolyser capacity in the country by 2030, Kallanish reports.
The plants will be built in the cities of Kokkola and Kristinestad on Finland’s west coast and in Porvoo in southeast Finland. Kokkola will produce 85 short tons/day of liquid green hydrogen and up to 700,000 t/y of green ammonia, Kristinestad will get a 1 gigawatt electrolyser plant to generate green hydrogen for green steel production and Porvoo will produce up to 100 t/d of green hydrogen for local mobility and export to Europe via a pipeline. Partners include Hy2Gen and GravitHy.
“We are proud to commit our know-how and turnkey hydrogen solutions towards helping Finland deliver on its vision to become a European leader of the green hydrogen economy,” says Plug Power ceo Andy Marsh.
The three plants will produce up to 850 st/day of green hydrogen or 2.2 gigawatts of electrolyser capacity by 2030. A final investment decision is expected in 2025-2026. The companies are currently working with numerous large investors and financial institutions to secure optimal capital arrangements and industrial partners to negotiate offtake agreements.
The plants will use Plug Power’s PEM electrolyser and liquefaction technology to reduce reliance on fossil fuels and to help decarbonise Europe. The projects will rely on Finland’s nuclear, wind and hydro power.
According to Finnish government agency Business Finland, the deal translates into a €1 billion ($1.06 billion) strategic investment in the country. Reuters says the project represents a $6 billion investment.
Plug Power, which did not put a dollar value on the project in its press release, is yet to respond to a Kallanish request for clarification.
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