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 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 is ideal for green hydrogen production and commercialization due to access to 2.8 gigawatts of offshore wind energy, water from the Baltic Sea, a direct connection to the electricity grid, and access to the German hydrogen core network, serving numerous consumers along its 9,700-km route.
The strategic importance of the Lubmin hydrogen hub is further emphasised by four other projects planned for the site. In total, an electrolysis capacity of around 4 gigawatts will be created there and hydrogen will furthermore be imported via the industrial harbour. By comparison, Germany’s total electrolysis capacity today is less than 1 gigawatt.
Thomas Engelmann, Head of Energy Transition at KGAL, commented: “Together with the hydrogen core network, Lubmin will make a significant contribution to the decarbonisation of the German economy. This is impact investment par excellence.”
Dr Alan Cadmus, Managing Partner of PtX Development GmbH: “Lubmin is a unique project. The site is one of the key centres for the development of the hydrogen economy in Germany, on a European scale. With KGAL and GP JOULE, we have two strong project partners at our side, to successfully realise the project and implement it quickly.”
Ove Petersen, CEO and co-founder of GP JOULE, comments: “GP JOULE’s vision is ‘100% renewable energy for all’. The on-site production of hydrogen plays a decisive role in the integration of green energy into the energy system of the future. It allows enormous amounts of renewable electricity to be collected, converted and utilised at any time. In Lubmin, together with KGAL and PtX Development, we are showing how it’s done.”
PC: PtX Development (visualisation) or KGAL (portraits).
Written by Leon Goldwater for Europe Real Estate.
Europe Real Estate — an overview of real estate developments in European countries.
