JLEN to invest in German green hydrogen production site
10/07/2023 09:51
LONDON, July 10 (Reuters) - JLEN Environmental Assets
Group JLEN.L said on Monday it will invest up to 9.2 million
euros ($10 million) in a green hydrogen production site in
Germany, along with a consortium of investment funds and clean
energy developer HH2E.
The production site is in Lubmin, Germany, and will be able
to produce over 6,000 tonnes of green hydrogen a year during its
first phase.
Further development phases are expected to increase capacity
to over 1 gigawatt, with annual production exceeding 60,000
tonnes of green hydrogen.
Green hydrogen is made by electrolyzing water powered by
renewable energy such as wind or solar. It is touted as a fuel
which can help decarbonize heavy-emitting industries and
transportation.
The Lubmin plant will be built and operated by HH2E and will
produce green hydrogen to the transport industry and large-scale
energy and industrial consumers, JLEN said.
A final investment decision is expected in the coming
months, with construction of the plant starting straight
afterwards, it added.
($1 = 0.9123 euros)
(Reporting by Nina Chestney)
((nina.chestney@thomsonreuters.com; +44 (0) 020 7513 5674;
Reuters Messaging: nina.chestney.thomsonreuters.com@reuters.net;
Twitter: https://twitter.com/NinaChestney))