KGAL ESPF 6 Energy Transition Fund Invests in Germany's Largest Green Hydrogen Hub
Key Ideas
- KGAL ESPF 6 Energy Transition Fund is investing in a 1,050 MW green hydrogen hub in Lubmin, Germany.
- The project involves partnerships with PtX Development GmbH and GP Joule to install 210 MW of electrolysis capacity by 2028, with plans for 840 MW more later.
- Shell pauses blue hydrogen projects in Norway due to market demand, while AcquaDuctus offshore hydrogen pipeline in the North Sea progresses.
- HDF Energy's project portfolio grows to 14 projects with increased investment, focusing on priority projects to attract investors and begin construction by 2025.
The KGAL ESPF 6 Energy Transition Fund has announced its investment in a significant green hydrogen project in Lubmin, Germany. This project is set to become Germany's largest planned hydrogen hub with a massive capacity of up to 1,050 MW. The initiative is a joint effort between KGAL, PtX Development GmbH, and GP Joule, with the installation of approximately 210 MW of electrolysis capacity planned for the initial phase, expected to be completed by 2028. Subsequent stages will see an additional 840 MW being added. On the other hand, Shell has decided to halt its support for blue hydrogen projects in Norway due to insufficient market demand, including the Gassco-led study on a hydrogen pipeline. Meanwhile, the AcquaDuctus offshore hydrogen pipeline in the North Sea is making progress. In another development, HDF Energy has stabilized its project portfolio, increasing from 13 to 14 projects, with a total investment growth from $3.2 billion to $3.4 billion. The company is focusing on priority projects to attract investors and aims to initiate construction by 2025. Additionally, the US Department of Energy (DOE) has allocated $15 million in federal funding to facilitate research and development projects converting various materials into synthesis gas to produce clean hydrogen. The United Nations Office at Nairobi (UNON) has also announced the opportunity for companies to participate in a feasibility study on green hydrogen potential in the Maldives, along with creating a national roadmap for sustainable energy transition.
Topics
Blue Hydrogen
Renewable Energy
Investment
Energy Transition
Funding
Partnership
Electrolysis
Pipeline
Baltic Sea
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