📋 Tender Overview
Reference: 20230515
Release date: 20 October 2025
Promoter – Financial Intermediary
SPECIAL PURPOSE ENTITY(IES)/FUND
Location
Finland
Description
The project will support the promoter’s production of Renewable Fuels of Non-Biological Origin (RFNBO)-compliant e-methanol (140?kt/year), to be marketed as e-fuel, based on renewable hydrogen (H2) from desalinated seawater through a very large-scale (200?MW) electrolyser, combined with partially biogenic CO2 and electricity from existing renewable energy facilities, located in Kristinestad, south-west Finland.
Objectives
The key driver of the promoter’s business strategy appears to be the governmental objective of reducing CO2 emissions in the transport sector, particularly reflected in the Roadmap to Fossil-Free Transport and supported by an ambitious target for renewable fuel distribution by 2030. The project will contribute to both EU and national climate and renewable energy targets for 2030 by producing renewable hydrogen and its derivatives (synthetic fuels) for use in transport. This is in line with the EIB Energy Lending Policy, provided the project meets the EU Taxonomy’s carbon intensity threshold for hydrogen production.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 700 million
Environmental aspects
Production and storage of H2 falls under item 6a,c of Annex II of environmental impact assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU), for which Member States shall determine whether the project shall be made subject to a mandatory EIA based on defined criteria. Further, H2 production needs to demonstrate compliance with applicable industrial safety regulations related to the handling and storage of chemical products in terms of safety and accident prevention, such as the SEVESO Directive. According to the promoter, the documentation for an EIAs have been submitted to the competent authorities. H2 production projects need to be aligned with and to be compliant to the sustainability and greenhouse gas emissions savings criteria of relevant EU directives and regulations, all of which are transposed into and embedded in the EIB's Energy Lending Policy and the Climate Bank Roadmap. The latter indicates that a substantial contribution to climate mitigation by H2 manufacturing is achievable at or below a carbon intensity threshold, set by the EU Taxonomy. Further, such projects need also to demonstrate an acceptable energy conversion efficiency.
Procurement
The project will be operating without exclusive or special rights within the meaning of the EU Utilities Directive 2004/17/EC c.q. 2014/25/EU hence private sector procurement procedures will apply. Equipment and works are expected to be purchased through several contracts for installation and infrastructure (Balance of Plant) of components for a H2 module.
Status
Under appraisal - 2/04/2025
