Luxcara and GreenH realise one of the first major green hydrogen projects in Norway with the assistance of CMS
Hamburg – Luxcara and GreenH have made the final investment decision for one of the first major green hydrogen projects in Norway. With an initial electrolysis capacity of 20 MW and a planned expansion to 30 MW, the Bodø Hydrogen Project will make a significant contribution to the energy transition in Norway. When completed, the plant will be able to produce around 4,800 tonnes of green hydrogen per year. The new plant will supply the green hydrogen for the Vestfjorden ferry connection, making it the first plant to deliver pressurised green hydrogen directly from the plant to a seagoing vessel. Commercial operation is scheduled to begin in 2026.
Luxcara and GreenH have already secured a grant of NOK 129 million (around EUR 11 million) from Enova, a company owned by the Norwegian Ministry of Climate and Environment.
CMS initially advised Luxcara on its entry into the project and subsequently assisted the joint project company with the development of the project and the drafting and negotiation of key project agreements. The transnational CMS team of lawyers from CMS Germany and CMS Norway led by Dr Holger Kraft and Matthias Sethmann was able to contribute its expertise in hydrogen and renewable energy projects as well as in the area of Energy M&A.
Luxcara is an independent asset manager offering equity and debt investment opportunities to institutional investors in the clean energy infrastructure market. In addition to wind power and photovoltaic plants, Luxcara's portfolio includes infrastructure, such as charging stations for electric vehicles and the production of green hydrogen, with a total capacity of around 6 GW and an investment volume of about EUR 6 billion in Europe. The project complements Luxcara's growing portfolio in the field of hydrogen infrastructure, which also includes the Hamburg Green Hydrogen Hub (HGHH). CMS successfully also advised Luxcara in its entry into this project.
GreenH is a company founded in 2019 by Infranordic with its registered office in Oslo. It focuses on the production of green hydrogen in close proximity to consumers to realise cost and efficiency benefits.
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