Fortum: Nordic countries suitable for renewable hydrogen production
The Nordic region possesses favorable conditions for renewable hydrogen production due to substantial renewable energy capacity and ambitious expansion plans for wind and solar power.
Fortum Oyj has identified the Nordic countries as offering excellent opportunities for the production of renewable hydrogen and its derivatives. The region's appeal stems from its significant renewable energy production capabilities and its ambitious growth plans for new wind and solar energy capacity.
Furthermore, the low carbon intensity of the national electricity grids in Nordic countries provides a competitive advantage. This characteristic simplifies the requirements for Renewable Fuels of Non-Biological Origin (RFNBO), removing the need for additional dedicated renewable energy production facilities.
According to Fortum's analysis, the low carbon intensity of the Nordic grids offers a competitive edge for RFNBO production. This means that production facilities do not need to meet additional specific renewable energy requirements when utilizing existing low-carbon electricity.
The company highlights in its analysis that the region's conditions make it an attractive investment destination for RFNBO projects. The information is based on a whitepaper published by Fortum, which details RFNBO definitions, the requirements across various Nordic power price areas, and the benefits the Nordic region presents for RFNBO investments. This analysis was made available on Fortum's website.