In order to plan, build, and operate a hydrogen plant with an initial feed-in capacity of 100 MW that can be raised to 1 GW by 2030, a coalition with HH2E AG and HydrogenOne Capital Growth plc was formed. Noerr provided advice on the consortium’s structure to Foresight funds.
In the project company, Foresight is obtaining a 75% initial majority ownership. With its intended capacity, the plant will be one of the biggest in Germany and offer green hydrogen to large industrial consumers, particularly in the Thierbach, Borna region. One billion euros are expected to be invested in the project as a whole.
Within the scope of the cooperation announced last year, in which the other investors joined HH2E, HH2E, Foresight, and HydrogenOne are putting this initiative into action. It is the first of five projects that are planned. Along with a group led by Tibor Feke, Marc Philip Priesmeyer, and Daniel Fuchs, Noerr provided advice to Foresight as well.
Two other Foresight-managed funds, JLEN and FEIP, have since co-invested in the project after Foresight made its initial investment in HH2E in May 2022. The same Noerr team advocated making this change.
Foresight is a top-listed infrastructure and private equity investment manager that was founded in 1984. As of the end of 2022, Foresight managed assets of £12.3 billion across seven nations in Europe and Australia.