In the UK, Watson Farley & Williams (WFW) said it advised KGAL Investment Management‘s KGAL ESPF 6 Energy Transition Fund on its investment in a major project to produce green hydrogen in the Baltic Sea port of Lubmin in eastern Germany. KGAL’s partners on the project are PtX Development GmbH as initiator and German green energy specialist GP JOULE as developer. The Lubmin Project is being built on the site of a former nuclear power plant and will produce around 100,000t of green hydrogen per year with a total capacity of up to 1,050 MW. Up to 2.8 GW of offshore wind energy will be available for electrolysis. A direct connection to Germany’s hydrogen core network is planned to transport the hydrogen from Lubmin via Bitterfeld and the Frankfurt-Höchst chemical triangle to economic hubs in the south of the country going forward, said WFW. Lubmin is KGAL ESPF 6 Energy Transition Fund’s second ground-breaking project in the renewables space, following its investment in the large-scale eSAF project by developer Arcadia in Vordingborg, Denmark, on which WFW also advised them.
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