Verso Energy, a France-based energy company, is considering the construction of a hydrogen and synthetic fuel plant at the Port of Oulu in northern Finland. The proposed facility would capitalize on the region’s abundant renewable energy resources and biogenic carbon dioxide, which are essential for high-value fuel production.
Antoine Huard, CEO of Verso Energy, highlighted the strategic advantages of the Oulu region. “We are interested in building a plant for high-value-added production in Oulu because the region provides an abundance of affordable renewable energy and biogenic carbon dioxide,” Huard explained. He also noted that the University of Oulu’s extensive research into hydrogen, combined with significant local investments in research and development, provides a skilled workforce. Furthermore, the existing business ecosystem, which includes potential customers and subcontractors, adds to the area’s appeal. The Port of Oulu, integrated into the TEN-T core transport network, benefits from excellent connectivity through rail and road links, facilitating access to global markets.
A final decision on the project is expected at a later date, as the company continues to evaluate the feasibility of the plant.
Finland’s electricity is among the most affordable in Europe, with the price for non-household customers in the first half of 2024 recorded at €0.0939 per kWh, the lowest in the European Union. Additionally, the Oulu region is the largest producer of renewable electricity in the country, further enhancing its attractiveness for energy-intensive projects like hydrogen production.
The Oulu region has already seen several hydrogen-related initiatives. Gasgrid Finland is in the process of developing a hydrogen transport infrastructure to connect the area’s hydrogen production to the wider Finnish network and eventually to other European markets.
Verso Energy’s potential move aligns with Finland’s broader push towards renewable energy and hydrogen technology as key components of its future energy landscape.
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