US-based Plug Power has announced its plans to develop three green hydrogen production plants with a combined electrolyser capacity of 2.2GW in Finland.
The company aims to build green hydrogen plants by the end of 2030 with a final investment decision (FID) expected to be taken by 2025-26 timeframe.
According to the fuel cell company, the development of the three facilities will result in the production of 850 tonnes of green hydrogen per day.
By leveraging Plug Power’s PEM electrolyser and liquefaction technology, the green hydrogen produced at the plants is expected to facilitate the production of ammonia and green direct reduced iron (DRI).
Besides, the manufactured green hydrogen is believed to reduce dependence on fossil fuels as well as significantly contribute to the decarbonisation of Europe.
The company said it has started talks with large financial investors, debt providers and industrial partners to secure optimal capital solutions and offtake commitments from creditworthy counterparties prior to the three green hydrogen projects getting to FID.
Plug Power has also obtained the commitment of three Finnish municipalities, namely Kokkola, Kristinestad and Porvoo to access land for the facilities.
The Kokkola site is expected to produce 85 tonnes of liquid green hydrogen per day and up to 700 kilotonnes of green ammonia annually by utilising 1GW electrolysers.
In Kristinestad, a 1GW electrolyser plant close to a former coal plant is anticipated to produce green hydrogen for green steel production.
Plug Power seeks to produce up to 100 tonnes of green hydrogen per day at the Porvoo site by 2030. The hydrogen produced will be exported through pipeline injection to stern Europe and used for local mobility.
The company is also collaborating with Hy2Gen and GravitHy for the development of the ammonia plant and green reduced iron plant, respectively.
The proposed green hydrogen production plants are also anticipated expected to generate nearly 1,000 direct jobs and more than 3,000 indirect jobs.
Plug Power CEO Andy Marsh said: “Already 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.
“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.”
