KGAL Invests in 1GW Green Hydrogen Project at Lubmin, Germany
Key Ideas
- KGAL's ESPF 6 fund is investing in a 1GW green hydrogen project at Lubmin, Germany, in partnership with PtX Development and GP Joule.
- The project, located at a former nuclear power plant site, involves installing 210MW electrolysis capacity in the first phase with an estimated cost of €500m.
- The second phase will add 840MW, aiming to significantly contribute to the decarbonisation of the German economy and the development of the hydrogen economy in Europe.
- KGAL's involvement in green hydrogen projects, including managing funds for development, demonstrates a strong commitment to promoting green hydrogen projects in Germany and globally.
KGAL's sixth European energy fund, the ESPF 6, is investing in a 1GW green hydrogen project at Lubmin, Germany. Partnering with PtX Development and GP Joule, the project is located at a former nuclear power plant site and aims to contribute to the hydrogen economy on a European scale. The first phase of the project, scheduled for completion in 2028, will involve installing an electrolysis capacity of approximately 210MW at an estimated cost of €500m. The second phase will add 840MW in stages. Key stakeholders emphasize the importance of green hydrogen in enabling the integration of renewable energy into future energy systems. KGAL's involvement in managing green hydrogen development funds, including the PtX Development Fund, highlights a significant investment in promoting green hydrogen projects in Germany and emerging economies.