Reconcept GmbH, an asset manager and renewable energy project developer, is expanding its activities in Finland. Beyond its established wind farm development, the company is now venturing into green hydrogen production, aiming to leverage Finland’s substantial wind power potential.
Reconcept GmbH’s approach involves the subsequent expansion of existing wind farms and the initial planning of hybrid parks. These parks will combine wind and/or solar energy with electricity storage projects and electrolyzers for hydrogen production. The joint venture Tuulialfa Oy, a top ten wind farm project developer in Finland, has established the subsidiary Vetyalfa Oy to spearhead this initiative.
Vetyalfa Oy’s first hydrogen projects are already in development, with a goal to reach construction readiness by 2028. The company aims to produce 100,000 tons of emission-free hydrogen annually, which aligns with approximately 10% of Finland’s overall green hydrogen production target within the EU. This ambitious goal reflects Finland’s climate strategy and commitments to international agreements, such as the Paris Climate Agreement of 2015 and the EU Commission’s Green Deal of 2019.
Green hydrogen, produced using renewable energy, is a key component of Finland’s climate strategy. It serves as a potential replacement for coal, oil, and natural gas in both industry and transport. Finland’s significant wind power capacity provides an ideal foundation for green hydrogen production. Reconcept GmbH is developing a project pipeline of 3,900 MW in Finland, which could be instrumental in meeting these ambitious targets.
Reconcept GmbH views the market potential for hydrogen plants in Finland positively. The company’s managing partner, Karsten Reetz, emphasized their active role in Finland’s national hydrogen roadmap, aiming to contribute to the country’s goal of becoming climate neutral by 2035. However, these ambitious plans must be critically examined against industry benchmarks and the economic viability of large-scale green hydrogen production.
To further develop its project pipeline in Finland and expand its renewable energy projects, Reconcept GmbH has launched the reconcept Green Bond III. The proceeds from this corporate bond will also support photovoltaic and wind energy projects in Germany and new projects in North America. This diversified approach to financing and project development highlights the company’s broader strategy in the renewable energy sector.
