KGAL ESPF 6 will invest in PtX Development’s green hydrogen project at Lubmin, Germany, with a planned total capacity of over 1GW.
Expected to be part of Germany’s “largest” planned centre for producing and importing green hydrogen, the plant’s first phase will have a capacity of 210MW once completed in 2028, before it scales a further 840MW.
PtX Development will act as the project initiator and developer of the hydrogen production sites and has secured GP JOULE as Project Developer. The site location will have access to water for production via the Baltic Sea and a direct connection to the German hydrogen core network.
The Lubmin hub, in total, has a planned electrolysis capacity of around 4GW, emphasised by four projects, including HH2E’s 100MW plant, which could scale up to 1GW. There is also the potential for hydrogen import via the industrial harbour.
Read more:HH2E awards €45m construction contract for Lubmin hydrogen plant
As KGAL ESPF 6 is involved in the project from an early stage, investors will be able to participate in the entire value chain. KGAL has not revealed how much it will invest in the initiative.
“Professional partners are of the utmost importance for an early-stage investment,” explained Thomas Engelmann, Head of Energy Transition at KGAL. “PtX Development and GP JOULE have convinced us with their strategic vision and track record.”
Dr. Alan Cadmus, Managing Partner of PtX Development, said, “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.”
The Lubmin project represents the second flagship project in the KGAL ESPF 6 impact fund that has secured an investment.
“In the dynamic growth area of the energy transition – and in particular green hydrogen – access to projects and market knowledge are the most important factors for success.”
