Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (OSE: NEL), has entered into an agreement with HH2E for a Front-End Engineering and Design (FEED) study and a Letter of Intent for two 60 MW electrolysis plants in Germany. The FEED study will begin after a firm purchase order is issued and the parties intend to finalize a contract for electrolysis equipment during the first half of 2023.
According to Nel CEO Håkon Volldal, “These projects are important for the energy transition in Germany and Europe, and we are excited to support HH2E in their efforts to create a greener society.”
HH2E's two 60 MW plants will be among the largest green hydrogen production plants in Europe announced to date. Both facilities are in the first phase and can be significantly expanded. The hydrogen will be used for industrial applications, transportation, and heat. In total, HH2E is aiming for 4 GW of electrolysis capacity in Germany by 2030.
Alexander Voigt, Co-founder and board member of HH2E, said, “One of the prerequisites for reaching our growth ambitions is the sufficient availability of high-quality electrolysers in Europe, such as those that Nel will supply. We are very happy and confident with Nel's technology and experience.”
The signing of the FEED study and Letter of Intent took place on Friday morning, the same day as Germany's Vice Chancellor Dr. Robert Habeck, Norway's Minister of Petroleum and Energy, Terje Lien Aasland, and Minister of Industry and Trade, Jan Christian Vestre, visited Nel's factory in Herøya, Norway, where the electrolysis equipment for this project will be produced.
Volldal stated, “This shows the importance of the German market for Nel, and we are honored that the Vice Chancellor Dr. Robert Habeck, together with members of the Norwegian Government, want to visit our flagship facility today.”
