Public funding of around €26m ($29.36m) has been provided to P2X Solutions in order to establish Finland’s “first” green hydrogen production facility, the company said today (Dec 20).
Set to be developed in Harjavalta, the total funding expected by P2X will be around €70m ($79m) and will enable the generation of industrial-scale green hydrogen with a capacity of 20MW.
This could be a crucial development for Finland’s hydrogen ecosystem with the country having the production capabilities through green energy sources to become a key player in Europe’s hydrogen economy.
The hydrogen produced at this 20MW plant is expected to provide green electricity for industrial applications and will additionally support industries with oxygen and thermal energy produced as a by product.
P2X also plans to use the green hydrogen produced from the plant to create synthetic fuels paving a method to decarbonise the transportation sector further in the region.
The start of construction is planned for the autumn of 2022, with commissioning of the plant planned for the first half of 2024.The company has also stated its intention to implement other green hydrogen production facilities with the same concept.
Herkko Plit, CEO of P2X Solutions, said, “The grant decision of the Ministry of Employment and the Economy and the financing decision of the Climate Fund are important steps towards starting the production of green hydrogen in Finland.
“Green hydrogen and further processed renewable fuels are key to significant emission reductions where electrification is challenging. The involvement of the state, as well as investors and partners, reflect a strong and broad confidence in our operations and a shared desire to achieve a cleaner future.
“We are now creating a green hydrogen market, keeping pace with the rest of Europe and moving towards an emission-free welfare society.”