OX2, Bank of Aland to study large-scale hydrogen production on Aland

Swedish renewables developer OX2 AB (STO:OX2) and the Bank of Aland’s mutual fund unit Alandsbanken Fondbolag have started a feasibility study for a large-scale hydrogen project on Aland, an autonomous region of Finland.

Aland is an archipelago located midway between Sweden and Finland. OX2 and Alandsbanken Fondbolag are already collaborating on the development of two offshore wind projects to the south and to the north of Aland.

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Now, they will look into plans to produce hydrogen and e-fuel for the shipping industry, for future local archipelago transport services, and for industrial processes in Aland. The maximum estimated capacity for hydrogen production is 3 GW.

In an announcement today, the partners noted that the area could become an important hub for hydrogen transportation through the planned Baltic Sea Hydrogen Collector across Finland, Aland, Sweden, Denmark and Germany.

The study will explore the feasibility of making the port of Langnas a Mega Green Port and is expected to take 12 months. It is supported by the not-for-profit Maersk Mc-Kinney Moller Center for Zero Carbon Shipping.

The partners explained that the port could act as a green node besides having a role in the provision of construction logistics for the individual wind projects.

"Creating a Mega Green Port will bolster the Aland economy in many different ways. In addition to being an important part of the offshore wind power projects, it will generate jobs and produce e-fuel for the shipping industry − making Aland attractive for the establishment of large business operations and enabling many new innovative projects in oxygenation of waterways and utilisation of excess heat in various manufacturing activities,” said Anders Wiklund, country manager Aland at OX2.