Inspirational day at the Northern Power Business Forum in Oulu last week, where over 500 industry participants gathered to discuss on how to accelerate the Finnish hydrogen economy.
Important highlight of the event: Arto Sutinen (CEO of Oulun Energia -konserni) and Herkko Plit (CEO of P2X Solutions Oy) announced their collaboration for a 100MW hydrogen plant (incl. carbon capture and storage), which would produce c. 10-30% of Oulu's district heating needs, and further derivatives like methane or methanol, post 2028.
Key "take-aways":
1) Finland has all the right ingredients to be a forerunner in the hydrogen economy - it has cheap electricity from renewables sources, plentiful access to biogenic CO2 and sweet water, a strong grid and electricity market, strong Government support and an educated workforce
2) Estimated investments into the hydrogen economy in Finland by 2040 amounting to over EUR 70bn, spanning power and hydrogen production, refining, storage and transport
3) Strong and tangible local hydrogen project pipeline already now, with inspirational presentations by market-leading industry players as P2X Solutions Oy, Hycamite TCD Technologies, Flexens Oy Ab, Liquid Wind, and many more
4) Opportunity to create a new export business enabled through connections to Central Europe - several Finnish transmission infrastructure projects received PCI status (deemed essential) from the European Commission
5) Team work, team work, team work - collaboration (and education) across the value chain essential to getting the first projects over the line
Our team is trying to do their part by supporting P2X clients across the entire value chain, from market (entry) assessments and partner selection, securing grants & incentives, business modelling, commercial contract structuring and capital raising. Please reach out if you want to discuss.
#ey #eyenergy #EYCorporateFinance #EYGlobalRenewables #hydrogen #hydrogeneconomy
