German firm Hy2gen has obtained a site at Vihreäsaari in the Port of Oulu, northern Finland, with plans to build a facility for producing renewable hydrogen and synthetic fuels.
The proposed 200MW plant is expected to make Oulu the largest hub for synthetic fuel production in the Baltic Sea region, measured by the number of Power-to-X (PtX/P2X) projects under development.
These synthetic fuels are primarily intended for sectors where decarbonisation is challenging, including maritime and aviation industries.
With the planning reservation granted by the City of Oulu, Hy2gen will now start preparing detailed plans for the facility.
The company has not yet made a final investment decision regarding the project.
Earlier announcements have been made by French company Verso Energy, German firms Energiequelle and ABO Energy, as well as Finnish companies P2X Solutions and Oulun Energia. All of these companies have presented initial plans for hydrogen and hydrogen derivative plants in the region.
City of Oulu urban environment services director Marko Kilpeläinen said: “With this announcement, Oulu now hosts more synthetic fuel production projects than any other city in the Baltic Sea Region.”
Hy2gen intends to provide further information about the initiative at the Northern Power event in Oulu, scheduled for 12 February 2026.
The event will host international industry figures, researchers, policymakers, and innovators to discuss hydrogen energy developments in the Nordic area.
Hy2gen operates globally by developing, financing, constructing, and managing facilities that produce Renewable Fuels of Non-Biological Origin (RFNBOs) and other PtX fuels.
Its current portfolio includes renewable hydrogen, ammonia, methanol, and PtX fuels such as Sustainable Aviation Fuel (e-SAF). The company’s activities span Germany, France, Norway, and Canada.
The company’s pipeline includes 3.4GW of projects in either planning or construction and an additional 15GW under development.
Hy2gen Nordic managing director Hege Økland said: “Hy2gen is very pleased to have secured a site for our project at the Port of Oulu.
“We would like to thank the City of Oulu and the Port of Oulu for choosing us as their partner in developing this area. We look forward to future collaboration in bringing our project to life.”
In 2023, Hy2gen purchased the Werlte facility in Germany.
At that time, it was regarded as the world’s largest operational power-to-e-methane plant. In spring 2025, CertifHy certified this plant as Germany's first RFNBO e-methane producer under EU regulations.
