Consortium partners have taken the final investment decision (FID) to build a 30MW green hydrogen project in Germany despite high cost increases.
The Bad Lauchstädt Energy Park is set to see the production, transport, storage and use of green hydrogen with 30MW of electrolysis powered by a nearby wind farm.
Made up of Terrawatt, Uniper, VNG Gasspeicher, ONTRAS, DBI and VNG, the consortium has said that due to price increases in recent months, the project that was expected to require an investment of €140m ($153m) will now require €240m ($262m).
“These significant price increases have been a major challenge for the project. The willingness of the partners to nevertheless bear these increased costs in order to implement the Bad Lauchstädt Energy Park shows the great commitment of the consortium partners,” said Cornelia Müller-Pagel, Project Lead at VNG.