Green ammonia will also be exported through the same port. The liquid green hydrogen will be produced for local use and for export to western Europe from the Port of Kokkola. Kokkola, Finland: This site is expected to generate 85TPD of liquid green hydrogen, and up to 700 kt of green ammonia per year, using 1GW of electrolyzers.The sites will be strategically located in Finland to take advantage of its abundant decarbonized and clean energy sources, such as nuclear, wind and hydro power. Today, at a signing ceremony in Helsinki, Finland, Plug’s CEO Andy Marsh secured the commitment of three Finnish municipalities to access land, kicking off these historical projects. We are collaborating with financial partners to secure optimal capital solutions, and industrial partners to secure offtake commitments from creditworthy counterparties before these projects get to FID by the 2025/2026 timeframe. Plug expects capital structure will include a majority of non-recourse debt, similar to other renewable asset financing. Plug has initiated discussions with large financial investors and debt providers. These projects are expected to represent some of the largest investments in the European market.
Using Plug’s PEM electrolyzer and liquefaction technology, the green hydrogen produced at these sites will support the production of ammonia and green direct reduced iron (DRI), reduce dependence on fossil fuels, and materially support the decarbonization of Europe. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, plans to develop three green hydrogen production plants in Finland, resulting in the production of 850 tons per day (TPD) of green hydrogen, or 2.2 gigawatts (GW) of electrolyzer capacity, by the end of the decade with final investment decision (FID) by 2025/2026. and HELSINKI, Finland, (GLOBE NEWSWIRE) - Plug Power Inc. Plug plans to develop three green hydrogen production plants in Finland for European markets, working with multiple financial and industrial partners
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