KGAL Investment Fund's Green Hydrogen Project in Lubmin, Germany
Key Ideas
- KGAL Investment Management invests in a major green hydrogen project in Lubmin, Germany, with a capacity of producing 100,000 tons of green hydrogen per year.
- The project, located on the site of a former nuclear power plant, aims to utilize up to 2.8 GW of offshore wind energy for electrolysis and establish a direct connection to Germany's hydrogen core network.
- The Lubmin Project is part of a larger hydrogen hub with a total electrolysis capacity of approximately 4 GW, positioning it strategically in Europe's energy landscape.
- Watson Farley & Williams advised KGAL on the investment, highlighting the collaborative effort between the two teams in advancing the decarbonisation goals of the German economy.
Watson Farley & Williams (WFW) provided legal counsel to KGAL Investment Management's KGAL ESPF 6 Energy Transition Fund on its investment in a significant green hydrogen production project in Lubmin, Germany. The 'Lubmin Project' aims to produce 100,000 tons of green hydrogen annually with a total capacity of up to 1,050 MW, leveraging offshore wind energy for electrolysis. The project will connect to Germany's hydrogen core network for distribution to economic hubs in the south of the country. KGAL's partnership with PtX Development GmbH and GP JOULE underscores the project's multidimensional approach to sustainable energy production. KGAL, a Munich-based investment and asset management firm, focuses on long-term investments in real estate, sustainable infrastructure, and aviation. PtX Development, founded in Berlin in 2020, specializes in hydrogen production, while GP JOULE is an integrated energy provider covering wind and solar power, green hydrogen, and heat. The WFW German team, led by Dirk Janssen and Christian Bauer, facilitated KGAL's involvement in the project, emphasizing the collaboration's role in advancing decarbonisation efforts in Germany. The Lubmin Project represents a significant step towards a greener energy future, contributing to the larger hydrogen hub initiative in Europe.
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