PtX and KGAL Acquire Majority Stake in Lhyfe's 800MW Hydrogen Project in Lubmin
PtX Development and KGAL have purchased a majority interest in Lhyfe's 800MW green hydrogen initiative in Lubmin, Germany. This acquisition supports plans for expanding the project to 1.7GW and positions Lubmin as a key player in Germany's hydrogen economy.
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PtX Development and KGAL have secured a majority stake in Lhyfe's 800MW green hydrogen project at the multi-developer hub in Lubmin, Germany. This acquisition includes 10 hectares around the site, which may facilitate an expansion to 1.7GW and an output of 160,000 tonnes of hydrogen annually.
The project, unveiled in 2023, is one of four planned at the former nuclear power plant site, with commissioning expected in 2029. System provider GP Joule will develop the project, although a timeline for development remains unconfirmed.
Hydrogen produced will connect to Germany's 9,000km pipeline, enhancing supply for industrial regions. The area is anticipated to become Germany's largest hydrogen hub with around 4GW of capacity planned.
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