Following the investment decision for the hydrogen plant in Bodø earlier this year, the hydrogen producer has now fulfilled the requirements set by Enova for the support allocation to the projects at Vestbase in Kristiansund and Slagentangen outside Tønsberg as well. All three projects will therefore proceed as planned.
– Hydrogen is a fuel for the future. With the projects in Bodø, Kristiansund and Slagentangen, we are taking an important step towards establishing a green infrastructure along the Norwegian coast, facilitating the reduction of emissions from maritime transport and local industry. This is thanks to solid support from Enova, says Morten Solberg Watle, CEO of GreenH.
Enova support enables the next step
In November 2024, GreenH was awarded NOK 391 million in support from Enova for its hydrogen projects, including NOK 129 million for the plant in Bodø. This facility is already under construction, and now GreenH is taking an important step forward in Kristiansund and at Slagentangen.
The Board of GreenH has made a final investment decision to develop a green hydrogen plant in Kristiansund.
– These projects are central to establishing the first functional value chain for hydrogen. As the projects now move from planning to construction, we are making great strides towards making hydrogen a real alternative for shipping in Norway – and demonstrating that zero emissions are possible in practice, says Sigmund Ø. Størset, Senior Adviser and Hydrogen Target Lead at Enova.
Accelerating the projects
Earlier this year, GreenH made an investment decision for the hydrogen plant in Bodø, and they are now moving forward with Kristiansund and Slagentangen as well.
At Vestbase in Kristiansund, one of the country’s busiest maritime bases – with over 16,000 annual port calls – a facility is being developed together with NorSea for the direct bunkering of hydrogen to ships. At Slagentangen outside Tønsberg, GreenH is collaborating with Grieg New Energy on the production of green hydrogen in the Oslofjord.
GreenH is an experienced green hydrogen developer with projects in Bodø, Kristiansund, Tønsberg, Sandnessjøen, Hammerfest and Rogaland.
The Board of GreenH has made a final investment decision to develop a green hydrogen plant at Slagentangen, outside Tønsberg.
– There has been a great deal of uncertainty within the maritime sector about when zero-emission fuels will be available along the coast. That uncertainty is now gone. Bodø, Kristiansund and Slagentangen will serve as three concrete proofs that green industrial transformation is happening now, concludes Watle.
About GreenH
GreenH is building hydrogen hubs along the coast that facilitate emissions reductions and contribute to local value creation. The hydrogen plants in Bodø, Kristiansund, Tønsberg, Sandnessjøen and Rogaland are being developed in cooperation with both national and international players within the maritime sector, industry and renewable energy.
On the financial backing secured in 2024:
- SWEN, through its strategy SWIFT 2, and Luxcara took minority stakes in GreenH AS, and Luxcara took a majority stake in GreenH Bodø AS – securing the company and its subsidiary GreenH Bodø AS approximately NOK 1 billion through private placements, loan arrangements, and a share purchase.
- The transaction was supported by the investment banks Pareto Securities and Clarksons Platou Securities.
- GreenH AS continues to have strong Norwegian ownership, and the Norwegian shareholders led by Infranordic, Brødrene London, Lychegården, and Grieg New Energy maintain a total share of 71% after the transaction.
- In November 2024, Enova awarded NOK 391 million in funding to GreenH projects, including NOK 129 million to the hydrogen facility at Langstranda in Bodø.