Oulu Energy is in the initial stages of planning a groundbreaking 100-megawatt (MW) hydrogen production plant in Oulu, northern Finland, marking a significant stride toward clean energy production. This initiative aligns seamlessly with Oulu Energy's broader objective of achieving carbon neutrality by the year 2030. Collaborating on the project planning is Finnish company P2X Solutions, currently engaged in the construction of a hydrogen production plant in Harjavalta, western Finland.

The envisioned project, set to unfold in the Laanila industrial area, encompasses an array of key components. These include an electrolysis plant boasting a capacity of up to 100 MW, a carbon capture plant, hydrogen and carbon dioxide storage facilities, and an additional processing plant capable of producing end products such as methane or methanol.

This venture marks Oulu Energy's inaugural foray into the realm of hydrogen projects and holds significance on a European scale. Beyond the scope of environmental benefits, the project is poised to enhance the vitality of the Oulu region, foster development opportunities for industry, and create new businesses and jobs. The hydrogen plant's outputs have the potential to serve as substitutes for fossil fuels in various sectors, including road, maritime, and air transport. Initial estimates suggest that the project could generate approximately 200–400 gigawatt hours (GWh) of heat energy per year as a by-product. This surplus heat energy could be seamlessly integrated into the district heating network, contributing to Oulu's annual district heating demand and advancing environmentally friendly heat production. Simultaneously, the project envisions the recovery of oxygen for industrial applications.

Moreover, the project seeks to explore the potential of utilizing biogenic flue gases from local industry and power plants in the further processing of hydrogen, aligning with a holistic approach to sustainable energy solutions.

The developmental phase of the project is spearheaded by P2X Solutions Ltd, a Finnish trailblazer in green hydrogen and Power-to-X technology. P2X Solutions is currently at the forefront of constructing Finland's inaugural industrial-scale green hydrogen and synthetic methane production plant in Harjavalta and Joensuu in western Finland.

The current phase of project development involves a comprehensive examination of the plant's feasibility, consideration of potential locations, and an impact assessment. The critical investment decision is anticipated in the autumn of 2025, with the earliest operational readiness of the plant estimated for 2028. This forward-looking initiative positions Oulu Energy at the forefront of sustainable energy production, reinforcing its commitment to carbon neutrality and contributing to Finland's broader efforts in the global transition to cleaner energy sources.