Finland's Green North Energy Plans Over 1 Billion Euro Investments in Hydrogen Plants

27/03/2024, 07:44

An illustrative image of Green North Energy's green ammonia production plant. Image: Business Finland

Finland's Green North Energy has signed letters of intent with the cities of Pori and Kemi to investigate the establishment of green hydrogen and ammonia plants. The company can utilize the production concept it has developed with the support of Business Finland, which it is already applying in the pilot plant being built in Naantali. With planned investments totaling over one billion euros, the aim is to accelerate the green transition, improve security of supply, and create new jobs.

AI Editor

Business Finland granted Green North Energy a 2.3 million euro product development loan at the beginning of 2023, with which the company planned a replicable production concept for the Naantali hydrogen and ammonia plant. Now, with EU support, the company is starting to examine the feasibility of implementing the concept in new locations in Pori and Kemi, as part of the BalticSeaH2 project. Both plants will be the size of the Naantali factory, i.e., investments of over 600 million euros.

In addition, the plants established by Green North Energy will significantly improve Finland’s security of supply, as ammonia is needed in the production of fertilizers, for which Finland is still dependent on Russia and African countries. Green North Energy’s planned production volumes would be sufficient to make Finland self-sufficient in ammonia production.

The investments are expected to have significant impacts on the business life of Pori and Kemi, as it is possible to build a green transition ecosystem around the plants.

– Green North Energy is a welcome partner for us: it is a pioneering company with roots firmly in Finland. We expect the project to have significant employment effects, as various activities can emerge around the hydrogen plant, says Lauri Inna, the Mayor of Pori.