Plug plans 2.2 GW of electrolyser plants in Finland

Plug Power Inc (NASDAQ:PLUG) on Tuesday announced massive plans to develop three green hydrogen production plants in Finland, totalling 2.2 GW of electrolyser capacity, by 2030.

The US hydrogen solutions provider is collaborating with financial and industrial partners to move the projects to a final investment decision (FID) by 2025/2026. The plants will use Plug’s PEM electrolyser and liquefaction technology.

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At a signing ceremony today in Helsinki, the company has secured land access in three Finnish municipalities.

A project in Kokkola calls for 1 GW of electrolysers to produce 85 tonnes per day of liquid green hydrogen and up to 700 kt of green ammonia per year, mainly for export to Western Europe via the local port.

In Kristinestad, a 1-GW electrolyser facility situated close to a former coal plant will produce hydrogen for green steel production exported from the port of the city.

The third project is located in Porvoo and envisages the production of up to 100 tonnes per day by 2030 for local mobility use and pipeline export to Western Europe.

Plug has partners on some of the initiatives. For the development of the ammonia plant, it is working with hydrogen project developer Hy2Gen, which is backed by Hy24, Mirova, CDPQ, Technip Energies and Trafigura.

For the development of the green iron plant, Plug is cooperating with GravitHy, a company focused on steel decarbonisation, in which Plug was a founding partner together with corporations such as Engie and Forvia.

At the signing ceremony, Plug also inked memoranda of understanding with Finland’s electricity and gas transmission operators, Fingrid and Gasgrid.