Site items in: Finland

Taking the market’s temperature: European Hydrogen Bank awards €720 million

The European Hydrogen Bank has awarded nearly €720 million to seven renewable hydrogen and ammonia projects. The funding will act to bridge the price gap between the cost of hydrogen production and the price buyers are willing to pay. Recipients will receive €0.37 - €0.48 in subsidies per kilogram of renewable hydrogen, and will collectively produce 1.58 million tons of renewable hydrogen over ten years. In conducting a transparent auction process, the European Commission has also provided vital insights into trends in demand for renewable hydrogen and ammonia.

Tracking the development pipeline of ammonia-ready vessels

In vessel news this week:

  • Samsung Heavy Industries’ ammonia-powered, ultra-large ammonia carrier design has been granted AiP by Korean Register.
  • Pherousa Green Shipping’s new fleet of six Ultramax vessels will be developed alongside partner OSM Thome.
  • And Avance Gas has triggered the option of two mid-sized LPG/ammonia carriers, noting growth in global seaborne ammonia trade.
Hy2gen to produce renewable ammonia in Finland, enters into partnership with Plug Power

Hy2gen and Plug Power’s renewable ammonia project will be part of a total 2.2 GW deployment across Finland, aiming to strategically utilise the country’s fast decarbonising grid and policy support at both national and EU level. Also in Finland, Flexens’ 300 MW hydrogen and ammonia project is expected to become operational in 2027, increasing the fraction of Europe’s ammonia and hydrogen needs produced locally.

Ammonia-powered cargo shipping in Finland

Green NortH2 Energy, Meriaura and Wärtsilä will develop a cargo vessel capable of running on ammonia fuel. Propelled by Wärtsilä multi-fuel engines, the vessel will be owned and operated by Meriaura, with Green NortH2 Energy to supply renewable ammonia fuel from its to-be-built production plant in Naantali, southwest Finland.

Ammonia Green Corridors - The Opportunity Is Now

Since the Clydebank Declaration was signed last December, the prospect of ammonia-fueled, green maritime corridors has been steadily rising. The Global Maritime Forum has just released a valuable discussion paper on potential definitions and approaches for green corridors. Recent announcements in Europe, Singapore, Australia and the Nordic countries demonstrate growing momentum. For maritime stakeholders to capture early learnings and best manage the complex task of alternative maritime fuel scale-up, the opportune time is right now.

Maritime ammonia: vessel conversions and new engines by 2023

Eidesvik Offshore and Wärtsilä will cooperate in the world's first ammonia conversion project, with an existing offshore supply vessel (OSV) to be retrofitted with an ammonia-fueled combustion engine, fuel supply and safety system. The project has a completion date of late 2023. In the engine space, MAN ES has signed a new agreement with Mitsui E&S and Mitsui O.S.K. Lines (MOL) to have purchase contracts for its low-speed, ammonia-fueled main vessel engine finalised in 2023.