On December 3, RES announced a transformative agreement with Prime Capital AG for the development of a green hydrogen plant in Ånge municipality. Set to produce 90,000 tons of renewable aviation fuel annually, it represents RES Nordics’ largest green hydrogen project to date.
– This project represents a significant milestone for the region and highlights our ability to attract world-class investments in the green transition. By combining our natural resources with innovative technology, we can strengthen Ånge’s and the region’s position as a leading player in sustainable industrial development, says Mikael Aamisepp, Director of Investment at High Coast Invest.
Prime Capital will invest at least SEK 12 billion in the hydrogen project, which is expected to create approximately 100 jobs. The plant will leverage 500 MW of renewable energy from the Tovåsen substation. Using electrolysis, water will be split into green hydrogen and oxygen. The green hydrogen will then combine with captured carbon dioxide to create synthetic sustainable aviation fuel (eSAF). Under the European Union’s ReFuelEU regulation, eSAF is a critical component in reducing aviation sector emissions in the coming years.
– The Nordic region is exceptionally well suited for the production of synthetic fuels due to the low cost of electricity, the high share of renewables in the energy mix, and the large availability of water. With the Alby project, we are acquiring a very attractive site – both in terms of location and commercial conditions – in Sweden, which will enable the development of a large-scale Power-to-X plant in close cooperation with RES, says Dr. Mathias Bimberg, Head of Infrastructure and Managing Director at Prime Capital.
In addition to reducing emissions, the project creates positive societal impacts. The plant is expected to generate additional jobs in the municipality of Ånge, thereby strengthening its profile as a pioneer in the renewable industrial transition.
– We have long since realized that green hydrogen is a fantastic enabler both for the green transition and for our municipality. As with natural resources such as forests and ore, we also have access to cheap renewable energy – a prerequisite for hydrogen production. This is an important step on the road for Ånge, as it transforms into a developing area, says Erik Lövgren (S), Chairman of the Municipal Board in Ånge.
About RES
RES is the world’s largest independent renewable energy company, operating in 24 countries and specializing in wind, solar, energy storage, green hydrogen, transmission, and distribution. An industry innovator, RES has delivered more than 27 GW of renewable energy projects globally and aims to add more than 22 GW of new capacity within the next five years.
About Prime Capital
Prime Capital is an independent asset management company headquartered in Frankfurt. It manages the Prime Green Energy Infrastructure Fund II (PGEIF II), which focuses on renewable energy projects in Sweden, Finland, and Norway. In October, the European Investment Fund (EIF) announced an investment of €100 million into PGEIF II to accelerate the development of renewable energy, including onshore wind power and green hydrogen, across the Nordic countries.
