Hy2gen has announced plans to develop a new facility for the production of renewable hydrogen and synthetic fuels at the port of Oulu in northern Finland. The Vihreäsaari site has already been secured for this purpose. The planned electrolysis capacity of the plant is 200 megawatts.
The synthetic fuels are intended primarily for hard-to-decarbonise sectors such as shipping and aviation. According to the company, Oulu would thus become the largest centre for Power-to-X projects (PtX) in the Baltic Sea region – measured by the number of facilities currently under development.
“We are very pleased to have found a location for our project at the port of Oulu,” says Hege Økland, CEO of Hy2gen Nordic.
Hy2gen develops, finances, builds, and operates facilities worldwide for the production of renewable fuels of non-biological origin (RFNBOs). The portfolio includes hydrogen, ammonia, methanol, as well as PtX fuels like Sustainable Aviation Fuel (e-SAF).
The company is already active in Germany, France, Norway, and Canada. The project pipeline currently includes 3.4 gigawatts in planning and construction, with a further 15 gigawatts in development. In Germany, Hy2gen has been operating the Power-to-e-Methane plant "Atlantis" in Werlte since 2023. This was certified by CertifHy in spring 2025 as the first RFNBO e-methane plant in Germany according to EU standards.
Oulu is increasingly developing into a centre for hydrogen derivatives. In addition to Hy2gen, Verso Energy, Energiequelle, ABO Energy, P2X Solutions, and Oulun Energia have also announced projects in the region.
“With this announcement, Oulu now hosts more projects for the production of synthetic fuels than any other city in the Baltic Sea region,” says Marko Kilpeläinen, Director of Urban Environmental Services for the city of Oulu.
According to BusinessOulu, the region offers favourable conditions: low electricity prices, high availability of renewable energy, a strong research landscape, and good logistical connections via the TEN-T transport network. Additionally, Gasgrid Finland plans to establish hydrogen infrastructure to connect Oulu with other regions.
A final investment decision by Hy2gen is still pending. However, the city of Oulu has already approved a planning reservation. The company plans to present further details at the Northern Power Event on February 12, 2026, in Oulu.
