KGAL ESPF 6 and PtX Development Acquire Majority Stake in Lhyfe's 1,700 MW Green Hydrogen Project in Lubmin, Germany
KGAL ESPF 6 and PtX Development GmbH have acquired a majority stake in Lhyfe's green hydrogen project in Lubmin, Mecklenburg-Vorpommern, expanding their joint platform to up to 1,700 MW of electrolyser capacity. Potentially Germany's largest hydrogen project, the site benefits from offshore wind access, a high-voltage grid connection and direct access to the GASCADE 'Flow' hydrogen pipeline. Lhyfe retains a minority stake.
Transaction date: · Source: kgal.de
Key facts
- Transaction date
- Technology
- Green Hydrogen (H2)
- Transaction price
- Not disclosed
- Buyer
- KGAL ESPF 6 and PtX Development GmbH
- Seller
- Lhyfe
- Country
- Germany
- Region
- Mecklenburg-Vorpommern
- Location
- Lubmin, Mecklenburg-Vorpommern, Germany
- Continent
- Europe
- Development status
- Under Development
- PPA
- n.a.
Technology details
Green hydrogen production project with an electrolyser capacity of up to 1,700 MW, located on the site of a former nuclear power plant on the German Baltic Sea coast. Potential annual production of up to 160,000 tonnes of green hydrogen, making it potentially Germany's largest hydrogen project. The site has secured land, a confirmed grid connection to the high-voltage transmission network, and direct access to the GASCADE 'Flow' pipeline a repurposed hydrogen transport pipeline already connecting Lubmin to Saxony-Anhalt and forming a core element of the German hydrogen core network. Project powered by offshore wind energy.
Additional information
KGAL ESPF 6 and PtX Development acquire a majority stake; Lhyfe retains a minority stake and continues contributing its development expertise. Following the acquisition, partners will focus on further technical and commercial development, engagement with potential hydrogen offtakers and preparation for project realisation. KGAL was advised by JLL (commercial), Houthoff (legal/tax) and Drees & Sommer Netherlands (technical). This project expands KGAL ESPF 6 and PtX Development's joint green hydrogen platform in Lubmin. Capacity refers to electrolyser MW, not power generation MW.
Source
Original announcement: https://www.kgal.de/kgal-espf-6-und-ptx-development-erwerben-mehrheitsbeteiligung-an-wasserstoff-projekt-von-lhyfe-in-lubmin/