RES sells green hydrogen plant project to Prime Capital
RES has sold the Alby hydrogen plant project in Ånge Municipality to the German independent asset manager Prime Capital (investing through the fund Prime Green Energy Infrastructure Fund II (“PGEIF II”)). RES will remain involved and will develop the project together with PGEIF II.
The plant will be developed in two phases and is expected to produce 90,000 tonnes (metric tons) of sustainable jet fuel per year at full capacity. This corresponds to around 4% of the expected EU demand in 2030 to fulfil the EU’s 6% SAF (“sustainable aviation fuel”) requirement. Water will be converted into green hydrogen through electrolysis, which will be further processed into synthetic sustainable aviation fuel (e-SAF). In addition to reducing emissions, the project will lead to positive societal impacts. The plant is expected to generate additional jobs in Ånge Municipality, thereby strengthening Ånge’s profile as a pioneer in the renewable industrial transition.
RES is the world’s largest independent renewable energy company, operating in 24 countries and active in wind, solar, energy storage, green hydrogen, transmission and distribution. RES has delivered more than 27GW of renewable energy projects worldwide and is planning for a further 22GW of new capacity over the next five years.
RES was advised by Mannheimer Swartling in the transaction.
