Lhyfe wins govt grant for 100-MW electrolysis project in France

Lhyfe (EPA:LHYFE) will receive up to EUR 149 million (USD 161.9m) in grant funding from the French government to build a 100-MW electrolysis plant to produce green hydrogen in the Normandy region of northern France.

The Nantes, France-based green hydrogen developer announced a confirmation for the financing support on Tuesday. The project that will benefit from the funding has been approved by the European Commission as part of the third wave of Important Projects of Common European Interest (IPCEI) on hydrogen.

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To be installed near the port city of Le Havre, Seine-Maritime department, the proposed facility is planned to be switched on by 2028 and will produce up to 34 tonnes of green hydrogen per day. According to the press statement, Norwegian fertiliser producer Yara has expressed its interest and support for the scheme. The company, which has production activities in Le Havre, has said it will “explore with Lhyfe all possible collaborations to decarbonize its industrial process.”

The execution of the project is subject to permitting approvals and a final investment decision by Lhyfe and its main partners.

(EUR 1.0 = USD 1.087)