Leading independent investment and asset manager KGAL announces that the KGAL ESPF 6 Energy Transition Fund is investing in a green hydrogen project at Lubmin, a Baltic Sea port in Mecklenburg-Western Pomerania, with a total capacity of up to 1,050 megawatts. This project is part of Germany’s largest planned centre for the production and import of green hydrogen, with Europe-wide significance. KGAL’s investment has excellent prospects, as the location offers immense strategic advantages and the project is being driven forward by experienced specialists. KGAL has partnered with project initiator PtX Development GmbH and project planner GP JOULE, the German green energy specialist.
The Lubmin project is being built on the site of a former nuclear power plant and the land has already been secured. In the first phase of the project, which is scheduled for completion in 2028, an electrolysis capacity of approximately 210 megawatts will be installed. A further 840 megawatts will be added in stages during the second phase. PtX Development, the initiator and developer of hydrogen production sites, has secured the cooperation of integrated energy supplier GP JOULE as project developer. GP JOULE has been active in the hydrogen business since 2012, making it one of the industry’s pioneers.
The location scores highly with its ideal conditions for the production and commercialisation of green hydrogen:
- Availability of up to 2.8 gigawatts of offshore wind energy for electrolysis
- Access to water from the Baltic Sea to produce green hydrogen
- Privileged connection to the extra high voltage electricity grid by provider 50hertz
- Direct connection to the German hydrogen core network, which will transport hydrogen from Lubmin via Bitterfeld and the chemical hub of Frankfurt-Höchst to southern economic centres such as Stuttgart
- Numerous consumers of green hydrogen along the 9,700-kilometre core network, especially large chemical and industrial sites
You can now read the full press release at the link below
