Prime Capital is establishing a joint venture to build and operate a green hydrogen and methane plant in Finland, with a total capacity of over 1GW.
The Prime Green Energy Infrastructure Fund (PGEIF), managed by Prime Capital, has entered into a joint venture with CPC Finland to develop the project with an electrolyser capacity of 200MW close to Kristinestad.
Construction is scheduled to start in 2024 and CPC Finland will provide 600MW of renewable energy projects to the joint venture that will cover at least 80% of the PtX plant’s electricity demand.
The permitting process for the PtX plant has already started, with commissioning scheduled for 2025.
“The Nordic green hydrogen/power-to-X market has a significant market potential in light of increasing hydrogen and synthetic fuels demand in Europe, accelerated as a result of the Ukraine war.
“With our well-established presence in these markets, we have a strong potential to become a relevant player in this new wave in the European energy transition market,” said Mathias Bimberg, Head of Infrastructure at Prime Capital.
The fund has also entered into another deal, with RES, to acquire a Swedish portfolio of three wind projects that total 290MW.