Plug Power plans three green hydrogen facilities in Finland

Finland – Three green hydrogen generating facilities are being planned by Plug Power for Finland. By the end of the decade, these projects hope to create 2.2 gigawatts (GW) of electrolyzer capacity, or 850 tons per day (TPD) of green hydrogen.

The creation of green hydrogen will help to manufacture ammonia and green direct reduced iron (DRI), lessen reliance on fossil fuels, and further Europe’s decarbonization objectives.

These facilities will produce green hydrogen using Plug Power’s PEM electrolyzer and liquefaction technology. To take advantage of Finland’s plentiful decarbonized and renewable energy resources, such as nuclear, wind, and hydro power, the three locations—Kokkola, Kristinestad, and Porvoo—have been chosen. The projects will produce liquid green hydrogen, green ammonia, and derivatives of green hydrogen such methanol, ammonia, and e-fuels.

Sizeable investment

These initiatives are likely to be among the biggest in the area and represent a sizeable investment in the European market. The creation of green hydrogen infrastructure and the manufacturing of green hydrogen derivatives will aid in Europe’s transition to a renewable energy source and help the RePower EU plan reach its goal of producing 10 million tons of renewable hydrogen by 2030. These initiatives will also aid Finland’s efforts to achieve carbon neutrality by 2035. Additionally, the projects are anticipated to significantly benefit the local economy by producing over 3,000 indirect jobs and about 1,000 direct jobs.

Securing the best finance solutions and offtake commitments from creditworthy counterparties may present difficulties. To overcome these obstacles, Plug Power has already started talking with significant monetary backers, lenders, and business associates.

Working together

For the construction of the ammonia plant, Plug Power is collaborating with Hy2Gen, a global project developer of renewable hydrogen, ammonia, and hydrogen-based e-fuels. Hy24, Mirova, CDPQ, Technip Energies, and Trafigura all promote Hy2Gen. By working together, diverse businesses will be able to produce derivatives of hydrogen and cut their carbon emissions.

Plug Power is collaborating with GravitHy, a business devoted to decarbonizing the steel value chain, on the development of the DRI/HBI plant. This alliance seeks to further the green steel revolution and add value to the sector’s transformation.

Finland’s international competitiveness and its appeal for green investments are shown by three Finnish municipalities’ pledge to supply land for these projects. The projects have assistance from Mika Lintilä, the Minister of Economic Affairs, Invest in Finland, Kokkola, Kristinestad, and Porvoo. The development of the hydrogen infrastructure is ensured by the partnership with Fingrid and Gasgrid, the operators of Finland’s electricity and natural gas transmission systems.