Investments The hydrogen boom is accelerating in Finland – Harjavalta’s investment of EUR 70 million was confirmed

To Harjavalta Construction of Finland’s first clean hydrogen production plant will begin in Satakunta next autumn. The P2X Solutions behind the project says it has made the final investment decision for the plant after a successful round of funding. The value of the investment is EUR 70 million.

The creation of the project was confirmed by the German asset management company Prime Capital, which made an investment of EUR 5 million in the company and granted a capital loan of EUR 20 million to the project. Previously, the project received an investment grant of EUR 26 million from the Ministry of Employment and the Economy. In addition, the state Climate Fund has granted the company a capital loan of EUR 10 million.

At issue is a smaller plant with a capacity of 20 megawatts, in which hydrogen is produced by electrolysis, ie by separating it from water by means of electricity. When the electricity used is emission-free, the process does not produce greenhouse gas emissions. Traditionally, hydrogen is produced by separating it from natural gas, for example, which causes the process to emit a lot of carbon dioxide.

CEO of P2X Delicate Plit says the plant plans to use mainly electricity generated by wind power. According to him, the hydrogen plant works well together with weather-dependent wind power production, as the plant is able to take advantage of peak production hours and thus compensate for fluctuations in production and consumption.

The electrolysis plant will be connected to the Harjavalta Industrial Park, so that all its end products – hydrogen, heat and oxygen – can be utilized in nearby industry. Some of the hydrogen produced by the plant is further processed into synthetic methane, which is used as a fuel for heavy transport.

Plit says that the company also plans to build Finland’s first clean hydrogen refueling station in Harjavalta for heavy traffic. Later, the distribution network would expand elsewhere in the country.

Harjavalta is P2X’s longest-running project, but the company’s goal is to build significantly more clean hydrogen production in Finland. Plit says that the company’s goal is to build new production capacity of 10,000 megawatts, or 50 Harjavalta plants, within 10 years.

To Finland There is now a lot of investment in clean hydrogen underway.

Nordic Ren-Gas plans In connection with the Kymijärvi power plant in Lahti, a 120-megawatt production plant, the hydrogen produced by which will be further processed into synthetic methane as a fuel for heavy transport. The value of the investment would be approximately EUR 250 million. Construction work could begin in 2023, and commercial production would begin in 2025.

In Mikkeli, the same company is designing a 40-megawatt plant with the same concept. The value of the investment would be approximately EUR 100 million.

Fuel refiner Neste is planning a 50-megawatt plant in connection with the Porvoo refinery. The liquid uses hydrogen to refine renewable fuels.