Alternative assets manager Foresight Group has joined forces with renewables firms Statkraft and Progressive Energy to develop green hydrogen projects in the UK.
The trio have formed Grenian Hydrogen, a company that will design, build, own and operate electrolytic hydrogen production facilities.
The companies said Grenian will generate hydrogen with power contracted from renewable generation within Statkraft’s portfolio. In some cases, local behind-the-meter power will also be sourced, via private wire arrangements, from both new and existing local wind, solar and biomass generation.
Grenian has an initial 200MWe development portfolio of seven projects, 100MWe of which are currently in the engineering and consenting phase. Grenian has also signed initial commercial terms with Accelera by Cummins, the zero-emissions brand of Cummins Inc, to provide the core electrolyser technology for the initial project.
Adam Baddeley, of Progressive Energy and Grenian Hydrogen’s CEO, said: “We’ve been working with Statkraft and Foresight for 18 months now and it’s great to formalise the company and launch our new brand.
“The diverse skills of each partner means that Grenian brings something unique to industrial hydrogen users, which is not offered by the wider market.”
Matt Kelly, VP of Hydrogen UK at Statkraft UK. said: “We are pleased to bring our experience in renewables development and energy markets to Grenian. With many companies already sourcing green energy to meet their electricity needs, this is the next step towards complete decarbonisation of industry with clean, renewable hydrogen produced locally and flexibly.”
Chris Holmes, partner at Foresight, said: “We firmly believe in green hydrogen’s potential as a key lever in aiding the energy transition, as evidenced by our other commitments in this sector.
“The UK’s Hydrogen Strategy and the recent Powering Up Britain announcements, through their combination of policy initiatives, have now accelerated the critical role that green hydrogen will play in the next phase of the UK’s energy transition. This presents an opportunity for Grenian Hydrogen to deliver a much-needed low-carbon solution for UK businesses and households.”
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