The global energy crisis, which is strongly affecting the EU, along with the global climate crisis, is leading a transition from a fossil fuel-based energy network towards a hydrogen-based economy and a net zero energy ecosystem.
Supporting the energy transition, ProEuropean GMBH is investing in the large-scale, innovative 100MW magnetic field electrolyser, through its German Joint Venture, headquartered in Munich, Germany.
ProEuropean Gmbh, through its German Joint Venture, headquartered in Munich, Germany, serves the transition, by engineering and financing a series 100MW and above projects, of green hydrogen production infrastructure, through the commercialisation of its innovative electrolysis system technology, paired with the continuous research & development inhouse activities, as well as through its active policy expertise and asset management expert team, aiming to structure and promote electrification projects through green hydrogen production for hard-to-electrify sectors and regions.
The 100MW electrolyser project, named H2CRETE, will be installed in Europe’s portal of Green Energy from Africa to Europe: Crete.
The location and industrial zone characteristics of Atherinolakos, which is currently hosting the Public Power Corporation of Greece, optimise the suitability of the investment of H2CRETE, transforming the industrial zone to a hydrogen production zone to cover the hydrogen and ammonia needs of South-Eastern European Member States and Norther EU Member States.
ProEuropean has dedicated the past 48 months preparing the grounds for the investment needs of H2CRETE, through feasibility studies and analysis of the low-cost green hydrogen production through the innovative low energy consuming electrolyser system. The pre-initiation phase entailed structuring off-taking agreements to ramp up the ROI for the viability of the project, of the EUR360M investment by private funds, as well as preparing the ground for the public awareness needs, to inform and educate the local and regional authorities for cooperation and support, finally achieved through this Innovation Fund program, as a common vision for the transformation of the profile of Greece to a Hydrogen Producing hub.
The project of H2CRETE which will be and injecting 80MW to the grid through intermediary production of Hydrogen and the use of Hydrogen Storage applications, has been carefully screened and evaluated by the asset management team of ProEuropean, throughout systematic inclusion of ESG factors to manage risks, through its cost efficiency and financial business plan, its current and future commercialisation and scalability dimensions, and also through its technical maturity and innovative solutions, its GHG savings calculations and environmental impact, and has been measured positively by external investment auditing committees, assessing H2CRETE as a responsible investment policy.
The industrial zone of Atherinolakos, Crete which currently hosts the Public Power Corporation facilities, is optimal to transition and to scale the construction of a large hydrogen park, due to the size of the area (8km radius) and the distance to inhabited areas (15km) and mostly due to its current infrastructure availability as part of the PPC and access to the transmitting TSO’s and distributing DSO’s network & pipeline. Through direct access to the sea and desalination facilities, H2CRETE supports a circular economy of available infrastructure and energy efficiency at various levels, through the cooperation of different industries, replacing the use of fossil fuels and the deploying additional innovative renewable energy capacities.
Additionally, H2CRETE is situated on the Hydrogen Backbone of EastMed pipeline, strengthening the value chain for hydrogen technologies via interregional cooperation and supporting the Hydrogen Backbone initiative connecting further Africa to Israel and to European Member States.
Lastly, H2CRETE is sharing location with an EUR 8mn funded Horizon Europe Hydrogen Valley, situated in Atherinolakos, (CRAVEH2) which creates a fertile environment for hydrogen off-taking applications at scale, such as mobility in transport and shipping, serving the objective of Synergies with other funding instruments, such as Horizon Europe and Connecting Europe Facility.
H2CRETE has the objective to transform the industrial zone of Atherinolakos to one of the largest is size, most suitable and effective Green Hydrogen Hubs for Greece and Europe, due to the geopolitical and industrial zone characteristics of Atherinolakos, transforming the industrial zone to a net-zero emission zone covering the hydrogen and further hydrogen-carrier needs such as ammonia, of South-Eastern and Norther EU Member States following the directives of the EU Commission.
The H2CRETE project has as an objective not only the environmental impact, bringing on significant emission reductions and potential for scalability, new job creation and financial viability to invest on lowering the LCOH, but also the objective paired with the ethical obligation to support and guide the regional and legislative authorities to support the licensing processes on alternative fuel policy framework and relevant regulatory conclusions, through submitting Knowledge-sharing plans on clean-tech solutions among projects and stakeholders, to build on learnings of overcoming challenges, promoting the vision of local authorities to support a hydrogen network.
PROEUROPEAN TRADING GMBH
WPP ENERGY GMBH
MEDITERRANEAN UNIVERSITY OF CRETE
B & T COMPOSITES