GreenH Secures NOK 1 Billion for Hydrogen Project in Bodø
Deal News | Jan 20, 2025 | SWEN Capital
GreenH, a pioneering green hydrogen developer, has secured a significant NOK 1 billion investment backed by SWEN Capital Partners and Luxcara for the construction of a hydrogen facility in Bodø, Norway. With additional support from Norwegian contributors and government agency Enova, this facility aims to produce up to 8.5 tonnes of hydrogen daily and supply the Vestfjorden ferry route with renewable energy by 2026. The venture marks a critical developmental phase for Europe's green hydrogen industry, with funding achieved through private placements, loans, and minority stake acquisitions. Advisors Pareto Securities and Clarksons Platou Securities facilitated the transaction.
Sectors
- Renewable Energy
- Hydrogen Production
- Investment
Geography
- Norway – The hydrogen facility project is located in Bodø, Norway, and involves significant Norwegian stakeholders and governmental support.
- Europe – The project has implications for the broader European market, particularly in advancing the green hydrogen and renewable energy sectors.
Industry
- Renewable Energy – The article discusses the development of a green hydrogen facility, a key element in the advancement of renewable energy solutions.
- Hydrogen Production – Focuses on the establishment of a hydrogen production facility, crucial for the maritime industry’s transition to zero emissions.
- Investment – Investment from private and governmental entities plays a crucial role in the financing and support of large-scale energy projects.
Financials
- NOK 1 billion – Total investment secured for the hydrogen facility project in Bodø.
- NOK 129 million – Part of Enova's funding specifically allocated to the hydrogen facility at Langstranda in Bodø.
- EUR 8.3 billion – SWEN Capital Partners' assets under management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GreenH | Target | Company | A leading developer of green hydrogen facilities in Norway. |
| SWEN Capital Partners | Investor | Company | A Paris-based private equity firm investing through the SWIFT 2 strategy. |
| Luxcara | Investor | Company | Hamburg-based asset manager with a focus on renewable energy investments. |
| Enova | Government | Government | Norwegian government agency providing financial support for sustainable energy projects. |
| Pareto Securities | Advisor | Company | Investment bank advising in the transaction for GreenH. |
| Clarksons Platou Securities | Advisor | Company | Investment bank that supported the financial transaction for GreenH. |
| Infranordic, Lychegrden, Brødrene London, Grieg New Energy | Shareholders | Companies | Norwegian shareholders maintaining a significant stake in GreenH. |