Finnish biofuel maker Neste is scrapping plans for a 120MW green hydrogen project, claiming national rules prevent the clean energy carrier’s use in its refinery.
In a statement released today (October 24), the company said it had decided to withdraw from investing in a 120MW electrolyser project at its Porvoo refinery in Finland.
Having already signed an agreement with German electrolyser firm thyssenkrupp nucera for the supply of alkaline electrolysers, Neste said the decision to halt the development came after it completed the basic engineering phase.
“The reasons behind the withdrawal are the company’s challenging market conditions and financial performance, requiring critical assessment of any new investments,” the statement said.
... to continue reading you must be subscribed
