A subsidiary of the Allianz insurance group invests 25 million euros in a young Finnish company. Ren-Gas will make investment decisions on five gas plants next year.
Nordic Ren-Gas, which is planning a new type of gas production in Finland, has received a strong German investor. Allianz Insurance Group’s subsidiary, Allianz Capital Partners, has acquired a minority stake in Ren-Gas for 25 million euros.
– Such an institutional financier brings credibility and a strong funding base, Rautkivi states.
25 million euros is probably just the beginning. According to Ren-Gas, typically the size of an infrastructure investor’s investment is at least EUR 500 million. Ren-Gas plans to make a total of two billion euros in investments in Finland, of which already published projects account for about half.
Ren-Gas plans to build plants in five cities where electricity is used to produce hydrogen from water and methane by combining hydrogen with carbon dioxide. Gas fuel for trucks is obtained from these products. The purpose is to use electricity produced by wind power.
The production plants are to be built in connection with the energy plants. District heat is produced from the waste heat of the process, which reduces emissions.
Market development director Rautkivi says that the company will make investment decisions on the five planned facilities after the summer of 2023. The current plans concern Pori, Kotka, Lahti, Mikkeli and Tampere.
Ren-Gas does not yet know where the plant will be implemented first, but the projects in Tampere and Lahti are the most advanced because they were launched first.
What is green hydrogen? Nordic Ren-Gas oy’s Matti Rautkivi says in the video:
*You can discuss the topic until 23:00 on Friday 9 December 2022.*