Energy Group and Hynfra sign an agreement to produce renewable hydrogen
Energy Group, a company active in the market of renewable energy sources such as photovoltaic and wind farms, and Hynfra, a company focusing on the development of clean energy projects, renewable hydrogen and its derivatives, are starting cooperation on projects that involve the production of hydrogen, ammonia and methanol on the basis of large-scale RES in Poland.
The companies estimate the planned cost of the project at over EUR 22 billion.
“As we observe global and European markets, we can see a rapid growth of investments related to the production of green hydrogen and ammonia. In our view, both resources are essential elements of green transformation and decarbonisation. By combining our experience in RES with the competences of Hynfra, a key player in the Polish hydrogen market, we have the ambition to become the leading producer of hydrogen in our region,” said Marian Glita, Managing Director of Energy Group.
“There are only few entities Poland, like Energy Group, that develop large-size and concentrated RES generating capacities on such a scale, which can be allocated to hydrogen production in line with the anticipated legal developments in the EU,” adds Tomoho Umeda, CEO of Hynfra. Such projects give us a chance to redefine Poland’s role on the hydrogen map of Europe, which is of fundamental importance to the future of our economy. Methanol and ammonia, in turn, are key hydrogen carriers, but also raw materials for many industrial production and transport areas,” Tomoho Umeda adds.
According to the agreement, Energy Group will be responsible for site acquisition, development and preparation of RES plants, while Hynfra will ensure the integration of technological solutions and the implementation of plants for the production and distribution of renewable hydrogen, ammonia or methanol based on RES energy.
Energy Group owns 100% stake in MG Green Energy, which has been active in the RES market for 10 years and is currently the leading developer of photovoltaic projects in Poland. MGGE is involved in the comprehensive construction of photovoltaic farms. It is an advisor and intermediary in the construction and sale of completed PV projects. So far, the company has delivered projects for approx. 1,156 MW, which earned it a certificate from the Institute for Renewable Energy (Instytut Energetyki Odnawialnej) confirming MGGE’s 36.9% share in the PV market.
Currently, MGGE is developing about 7,000 MW of large-scale projects.
Hynfra is an integrator of technologies that support energy transition and full decarbonisation. It designs and develops plants for the production and use of renewable hydrogen, its derivatives, green energy and renewable heat sources. Hynfra’s portfolio is based on four pillars: industrial, ammonia, municipal, and energy storage.