Foresight plans to invest in a 100MW green hydrogen project in Germany through its funds.
The project is being developed in Borna by Foresight managed funds, HH2E, and HydrogenOne Capital Growth. It will initially produce about 6000 tonnes of hydrogen annually.
With additional construction, the plant’s capacity would rise to over 1GW and its yearly hydrogen production will exceed 60,000 tonnes.
High-capacity battery storage will also be incorporated into the Borna facility.
The factory will be run by the German green hydrogen developer HH2E through its newly created subsidiary, HH2E Werk Theirbach.
The facility will supply green hydrogen to consumers and off-takers, such as businesses in the mobility industry, as well as significant energy and industrial users, such as those in the chemicals sector, commercial aviation, and haulage.
JLEN and FEIP are two of the Foresight funds that have invested in HH2E.
A diverse portfolio of environmental infrastructure assets makes up the investment fund JLEN, which is publicly traded. In the meantime, the €851.4 million private limited partnership fund FEIP focuses on sustainability.
FEIP makes investments in a variety of infrastructure parts required to create cutting-edge, carbon-free energy systems.
Early in 2022, Wisdom made its first investment in HH2E.
Foresight disclosed its involvement in a number of green hydrogen projects in the north-west of England in October 2022.
Associate Director at Foresight Group, Joe Davis, said “We are delighted to be supporting HH2E as it makes significant strides in developing green hydrogen in Germany.”
“Foresight has long recognised the important role green hydrogen can play in the energy transition through enabling hard-to-abate industries and heavy transport to benefit from renewable energy. Harnessing battery storage technology for hydrogen production demonstrates how forward thinking the HH2E team are.”
“We look forward to seeing their progress as they develop cost-competitive solutions in this exciting and growing sector.”
Co-founder and board member of HH2E, Andreas Schierenbeck, added “The technology mix developed by HH2E harnesses the volatility of renewable energy production by combining an alkaline electrolyser with a high-capacity battery, which enables constant production of cost-competitive green hydrogen without a permanent supply of power.”
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