Finland – Ministry of Economic Affairs and Employment in Finland has approved an energy investment aid of EUR 1.96 million for Neste’s green hydrogen production project.
The focus of this project, currently in the basic engineering phase, is to construct a 120MW electrolyzer at the Porvoo refinery, aiming to revolutionize the refinery’s processes with the generation of green hydrogen.
Neste’s ambitious project not only aims to produce green hydrogen for the refinery’s operations but also places a strategic emphasis on heat recovery. By integrating a 120MW electrolyzer, the project envisions harnessing the heat generated during the green hydrogen production process.
Heating network
The energy investment aid isn’t limited to Neste alone. The regional Finnish energy company, Porvoon Energia, is a crucial collaborator in this venture. Together, Neste and Porvoon Energia have embarked on a comprehensive study to explore the possibilities of heat recovery and its integration into the City of Porvoo’s district heating network. This collaborative effort reflects a holistic approach towards sustainable energy solutions, ensuring the broader community benefits from the innovative project.
Transition from fossil fuels
A key aspect of this initiative is to incentivize businesses and industries, urging them to transition from fossil fuels to sustainable and green energy sources. The focus aligns with Finland’s commitment to achieving carbon neutrality targets and fostering a resilient, environmentally conscious economy.
The expected readiness for the investment decision is projected to materialize in 2024, marking a pivotal moment for Neste, Porvoon Energia, and the broader Finnish energy landscape.
