Project news

Denmark's GreenGo Energy to build 4 GW energy park with green hydrogen

The proposed project includes 2 GW of electrolysis, with total investment around EUR 8bn.

January 25, 2023

GreenGo Energy is cooperating with Ringkøbing-Skjern Municipality of Denmark to develop a green energy park based on 4 GW of renewable hybrid solar and wind energy fed directly to a new Energy Park, where the core will be 2 GW of electrolysis, the company announced.

The Energy Park will be established at the future Stovstrup 400kV substation east of Tarm in Ringkøbing-Skjern municipality.

The ambition is production of over 1 million tons of green fuels annually from the project, known as Megaton.

The project can become a new landmark for Denmark and help position Denmark as a pioneer in the new P2X industry and hydrogen economy. The Energy Park and the fully integrated renewable energy projects can be operational before 2030 and can thus contribute significantly to achieving Denmark's 2030 targets.

The total investment in the Megaton project is expected to be around EUR 8bn.

The investment will be made by GreenGo Energy's clients and partners, which include some of the world's largest investors in renewable energy and infrastructure. The consulting and engineering teams working with GreenGo Energy in Megaton's development are COWI, Arkitema, who are specialists in P2X, and New Power Partners, specialists in offshore wind energy.

A core prerequisite for competitive P2X projects, besides the need for significant scale, is control of renewable energy in sufficient quantities and with the right pricing, the company said in the news release. Likewise, it is crucial that the renewable energy production is evenly distributed over the year so that the electrolysis runs optimally with a high constant capacity factor. This requires the right combination of solar and wind energy.

The starting point and prerequisite for Megaton is thus GreenGo Energy’s development portfolio of 4,000 hectares of onshore solar and wind projects in the municipality and in addition 2 GW offshore wind that is taken out of GreenGo Energy's development portfolio of offshore wind projects in Denmark, which are primarily applied for under the open-door scheme.

The final locations for the energy-producing assets have not yet been determined but will be qualified in close cooperation with Ringkøbing-Skjern municipality and local stakeholders over the coming period. The location in Ringkøbing-Skjern municipality benefits from complementary solar and wind production profiles - a hybrid that can be balanced so that the Megaton electrolysis runs optimally all year round.

The 4GW solar and wind projects will produce 11.5 TWh of green power annually – this corresponds to more than 30% of Denmark's current total power consumption. More than 85% is expected to be consumed directly in the Megaton Energy Park for the production of green fuels.