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JLEN Environmental Assets expands green hydrogen investment

230207 GCP green is good

JLEN Environmental Assets Group (JLEN)  announced its investment up to the value of €9.2m into the company’s second green hydrogen development opportunity, in Germany, alongside a consortium including other Foresight managed funds and its development partner HH2E, a specialist in developing green hydrogen projects to decarbonise industry.

The green hydrogen production site is located in Lubmin, Germany and is capable of producing over 6,000 tonnes (200,000 MWh) of green hydrogen per annum during the first 100 MW phase, which will encompass electrolysis and integrated high-capacity battery storage. Subsequent expansion phases are expected to increase capacity to over 1 GW, with annual production exceeding 60,000 tonnes of green hydrogen. The Lubmin plant will be built and operated by HH2E and will serve green hydrogen customers and offtakers, including the mobility sector and large-scale energy and industrial consumers. Lubmin benefits from excellent pre-existing grid infrastructure, including two LNG terminals, built in 2022, which connect the town with the country’s pipeline network.

This follows an announcement made in January to invest in the Thierbach green hydrogen project near Borna in Germany in partnership with HH2E. Both opportunities are expected to provide attractive returns compared to the portfolio average.

[QD comment: While it is still early days for green hydrogen commercially, the decarbonisation potential of the technology is significant and several funds have been taking advantage of generous regulatory tailwinds directed at the industry to drive investment.

Commenting on the announcement, Ed Warner, chair of JLEN, said;

“We are pleased to be making good progress with our partnership with HH2E, which is poised to become one of the largest producers of green hydrogen in Europe. They have a deep understanding of the sector and they are highly capable of developing attractive opportunities to unlock value for investors. Hydrogen has an important role to play in decarbonising heavy transport, industry, and other hard-to-abate sectors of the economy. Investing in this sector will remain an important near-term focus for the Company as we continue to assess opportunities to recycle capital within the portfolio.”

JLEN : JLEN Environmental Assets expands green hydrogen investment

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