Skip to main content

Vitol acquires stake in Gen2 Energy

Published by
Energy Global,


Vitol has acquired a 10% equity interest in Gen2 Energy, a Norwegian producer of green hydrogen, for an undisclosed sum.

Gen2 Energy aims to use Norway’s surplus hydroelectric power to produce green hydrogen which will be transported and sold to customers principally in Europe.

Work at the company’s initial site in the north of Norway is underway and once complete it will have a capacity of at least 80 MW, producing 11.7 kt/yr of green hydrogen.

Simultaneously, Gen2 Energy is developing a second green hydrogen facility in the south-west of Norway with an eventual capacity of 300 MW.

Production at the first site is expected to commence by December 2023.

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Spring 2021 issue

The Spring issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including GlobalData, Atlas Copco, Watlow, QED Naval, TRACTO, AB Energy, and more.

Read the article online at: https://www.energyglobal.com/other-renewables/28042021/vitol-acquires-stake-in-gen2-energy/

You might also like

 
 

Embed article link: (copy the HTML code below):