German group ABO Energy has received the green light from planning authorities to build a hydrogen production plant in Oulu, northern Finland.
The plant will include an electrolyser with a maximum capacity of 600MW and could also produce methanol and sustainable aviation fuel, depending on the availability of biogenic carbon dioxide – a crucial input for e-fuel production.
The first phase of the facility is expected to come online between 2034 and 2036. A final investment decision is still pending.
ABO Energy also plans to utilise the plant’s waste heat for district heating in the Oulu region – the largest producer of renewable electricity in Finland and a growing centre for hydrogen development.
Several other hydrogen and e-fuel projects have already been initiated in Oulu. State-owned Gasgrid Finland aims to establish hydrogen transport infrastructure connecting the region with the rest of Finland and beyond, including Germany.
The city’s international port, access to biogenic CO2, and a location on the European TEN-T transport network have attracted further investment. Oulu is also home to the University of Oulu, which is a centre for hydrogen research and training.
“Finland is an incredibly attractive destination for investment, thanks to our abundant, affordable green electricity and capacity to scale up production,” said Amanda Cardwell of ABO Energy Suomi Oy.
This year, Finland is expected to have some of the lowest electricity prices in Europe, with Montel News reporting that spot prices could fall below €40/MWh. The country plans to build 25TWh of renewable energy capacity by 2030, which could further reduce electricity costs.
