Billion investment in Finland – two green hydrogen production plants planned

Green North Energy, a Finnish green energy project development company, has signed a memorandum of understanding with the cities of Pori and Kemi to establish green hydrogen and ammonia plants.

Earlier last year, Business Finland granted Green North Energy a product development loan of 2.3 million euros, with the help of which the company designed a replica production concept for a hydrogen and ammonia plant in Nantali.

The Naantali pilot plant is scheduled for completion in 2027. The plant produces 200,000 tonnes of green ammonia per year.

Now, with the support of the European Union, the company is starting to study the feasibility of the concept for new locations in Pori and Kemi as part of the BalticSeaH2 project to create a cross-border hydrogen valley around the Baltic Sea.

Both facilities will be the size of the Nantali factory, meaning investments of more than 600 million euros.

More than one billion euros of planned investments are aimed at accelerating the green transition, improving security of supply and creating new jobs.

In investment projects, the next step is to carry out preliminary studies and feasibility studies, after which approval processes lie ahead. Final investment decisions on the projects will be made in the early 2030s. These facilities should be operational by the early 2030s.

The production plant at Bori is to be built at Tahkoludo port and the production plant at Kemi is to be built at Ajos port.

The green hydrogen production capacity of the two plants will be 300-500 MW. Both plants will produce 200,000-400,000 tonnes of green ammonia annually.

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With the help of hydrogen products produced with renewable energy, it is possible to replace fossil fuels and chemicals, accelerating the green transition regionally and globally.

The facilities installed by Green North Energy significantly improve Finland's security of supply, as ammonia is needed in the production of fertilizers, for which Finland is still dependent on Russia. Green North Energy's planned production volumes will be sufficient to make Finland self-sufficient in ammonia production.

Ammonia production requires natural gas, so through investments, natural gas can be replaced by emission-free green electricity, mainly wind power.

These investments are expected to have a significant impact on Pori and Kemi's business life as a green transition environment can be created around the facilities.

According to Green North Energy, the choice of location cities was particularly influential as significant offshore wind projects are planned for both Pori and Kemi. A good supply of electricity produced with renewable energy is crucial for hydrogen projects. Proximity to the port was also a big factor, as the main market for green ammonia is in Europe.

The employment effect of the two projects will be approximately one thousand employees during the construction phase and approximately 50 permanent employees.

According to Green North Energy, funding for each project is its own company and active discussions are underway. Funding for the construction of production facilities is also planned to be applied through EU support instruments, among others.

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