The green hydrogen plants will be positioned strategically across Finland to take advantage of the country\u2019s clean energy sources, such as nuclear, wind, and hydropower.<\/p>\n
The plants will be located at the following:<\/p>\n
- \n
- Kokkola, Finland:\u00a0This site will generate 85TPD of liquid green hydrogen and up to 700 kt of green ammonia per year, using 1GW of electrolysers. The liquid green hydrogen will be produced for local use and for export to Western Europe from the Port of Kokkola. Green ammonia will also be exported;<\/li>\n
- Kristinestad, Finland:\u00a0The 1GW electrolyser plant will generate green hydrogen for green steel production (2.0 mt\/y of DRI\/HBI produced) exported from the port of Kristinestad; and<\/li>\n
- Porvoo, Finland:\u00a0This site will produce up to 100TPD by 2030, which will be used for local mobility and exported to Western Europe.<\/li>\n<\/ul>\n
In addition to decarbonising Europe\u2019s energy supply, the facilities will boost the local economy, creating around 1,000 direct jobs and 3,000 indirect jobs.<\/p>\n
![\"\"](\"https:\/\/www.innovationnewsnetwork.com\/wp-content\/uploads\/2023\/05\/shutterstockAudio-und-werbung_2170683363.jpg\")
\u00a9 shutterstock\/Audio und werbung<\/figcaption><\/figure>\n Jonne Sandberg, the Development Director of Kokkola, said: \u201cWe are proud to be at the forefront of the green transition towards a more sustainable economy. We have consistently developed our infrastructure with a focus on attracting industrial investments.<\/p>\n
\u201cKokkola is committed to supporting the installation of Plug\u2019s project in Kokkola South, and we are delighted about the estimated several hundreds of industrial jobs that will be created with Plug\u2019s establishment.\u201d<\/p>\n
Plug will partner with Hy2Gen to develop the ammonia plant and innovate sustainable hydrogen-derived fuels, such as e-fuels, methanol, and ammonia. This will help to decarbonise industry and transport.<\/p>\n
Additionally, Plug will collaborate with GravitHy to establish the DRI\/HBI plant. GravitHy is a leading company in the field and is also developing a similar site in the South of France that will produce two million tons of DRI\/HBI.<\/p>\n
Andy Marsh, the CEO of Plug Power, commented: \u201cAlready one of the largest players in the European hydrogen market, Plug is accelerating its commitment to Europe at an unprecedented scale with these three planned historic industrial sector projects collaborating with both financial and industrial partners.<\/p>\n
\u201cWe 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.\u201d<\/p>\n
Project financing details<\/h3>\n
To facilitate the development of green hydrogen plants, Plug has entered discussions with large financial investors and debt providers. They expect the capital structure to include a majority of non-recourse debt, similar to other renewable asset financing.<\/p>\n
The company is working with financial partners to obtain capital solutions and industrial partners to solidify offtake agreements before a final investment decision (FID) by 2025\/2026.<\/p>\n","protected":false},"excerpt":{"rendered":"
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