LEAG, HH2E collaborate to build hydrogen economy in Germany

• German energy company LEAG and also green power firm HH2E AG will interact to set up a green hydrogen economy with a concentrate on the government states of Saxony, Saxony-Anhalt and Brandenburg.

The two companies have actually authorized a memorandum of understanding (MoU) that improves the projects intended by both companies in various value-added phases and also areas.

The partners are seeking to collectively accelerate the realisation of these projects and also to create technical as well as financial synergies. The projects will concentrate on the advancement of a value chain from manufacturing to transport and also making use of green hydrogen.

The partnership is a more action in LEAG's hydrogen technique and will assist the energy company to shape the structural makeover of the mining region, developing jobs for its employees, LEAG's board participant Philipp Nellessen commented after the signing of the MoU.

LEAG aims to become one of the biggest green power manufacturers in Germany with its GigawattFactory technique which imagines the implementation of 7 GW of solar and also wind capacity in the Lusatia mining areas by 2030. In order to make renewable power readily available under any weather, the company is preparing to construct new hydrogen-ready power plants at its sites in Jaenschwalde, Schwarze Pumpe, Boxberg and also Lippendorf.

Berlin-based HH2E plans to install 4 GW of electrolysis capacity across Germany by 2030. It is already associated with a project with funds handled by UK-based Foresight Group and HydrogenOne Capital Growth plc (LON: HGEN) for the building and construction of a green hydrogen manufacturing complicated of over 1 GW in Saxony.