Energiequelle, a European renewable energy group, has announced plans for a significant hydrogen project in Oulu, northern Finland. The project envisions a multi-stage development that could result in a hydrogen production capacity exceeding 500 MW by 2033. The first phase, scheduled for completion by 2028, involves constructing a 5 MW hydrogen production plant and a refueling station for buses and heavy-duty vehicles. Subsequent phases will see a gradual increase in production capacity to 100-500 MW, potentially enabling hydrogen exports. The success of the project relies heavily on market conditions and the availability of infrastructure in the region. Energiequelle aims to leverage its experience in the European hydrogen market, particularly citing the HY.City.Bremerhaven project in Germany, to ensure the Oulu project's success. With the support of local initiatives, such as Gasgrid Finland's plans for a hydrogen transport infrastructure and the University of Oulu's expertise in hydrogen research, the project aims to contribute to the growing hydrogen industry in the region. While the land reservation marks a significant step, final investment decisions are pending based on various factors including market dynamics and investor interest.