French green hydrogen developer Lhyfe has taken a 49pc equity stake in Finnish company Flexens, which has a 1.5GW pipeline of projects.

Flexens is privately owned by its founders, a consortium of Finnish research institutes and companies specialised in energy systems, bioeconomy and the circular economy as well as local partners within the government-supported Smart Energy Aland project, for which the company was originally founded.

Flexens signed a letter of intent last November to lease land from an industrial site in the Finnish city of Kokkola for a 300MW green hydrogen project. The development is due to be commissioned by 2027 and could feed into the planned Nordic Hydrogen Route—a 1,000km transmission network in the Bothnian Bay area between Sweden and Finland expected to be completed by 2030.

300MW – Kokkola project capacity

Flexens also has a 2.5MW project in Lempaala due to begin operations in 2025, with offtake going to Finland’s first hydrogen refuelling station.

Lhyfe aims to have more than 3GW of installed capacity by 2030 and already has three industrial sites due to start up by the end of this year.

“Flexens is an expert and committed company that we have been fortunate to work with over the past months. Our common values and their knowledge of the local market convinced us to come together in order to achieve our respective goals more quickly,” says Taia Kronborg, chief business officer at Lhyfe.

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Author: Polly Martin