RES, a leading global renewable energy company, has signed a sales agreement with Prime Capital for the Alby hydrogen plant project in Ånge municipality, Sweden.
The project, which will be owned by Prime Energy Infrastructure Fund II, aims to produce sustainable aviation fuel (SAF) through electrolysis, converting water into green hydrogen and oxygen. The hydrogen will then be combined with captured carbon dioxide and further processed into eSAF, a low-carbon alternative to traditional jet fuel.
The Alby plant will be powered by 500MW of renewable energy from the Tovåsen substation. This significant investment will not only contribute to the decarbonization of the aviation sector but also create new jobs and boost the local economy.
Chief executive officer of RES in the Nordics Matilda Afzelius said: “This is a great day. 500MW capacity allows for a significant renewable aviation fuel production.
“In a broader perspective, it is an important step in the transition to fossil-free fuels. For RES Nordics, this hydrogen development agreement with Prime Capital is a final exam. A final exam which we passed with honours, indicating that RES Nordic develop marketable, attractive and sustainable energy projects that also create positive socio-economic effects in places like Ånge.”
Head of infrastructure and managing director at Prime Capital Dr Mathias Bimberg added: “The Nordic region is exceptionally well suited for the production of synthetic fuels due to the low cost of electricity, the high share of renewables in the energy mix and the large availability of water.
“With the Alby project, we are acquiring a very attractive site – both in terms of location and commercial conditions – in Sweden, which will enable the development of a large-scale Power-to-X plant in close co-operation with RES.”
This partnership between RES and Prime Capital marks a significant milestone in the development of a low-carbon hydrogen economy in Sweden and Europe.
