December 05, 2024 [SAF Investor]- Leading renewable energy company RES has announced the sale of its Alby hydrogen plant in Sweden to Prime Capital.

Prime Capital’s fund, PGEIF II, will now own and operate the plant.

“The Nordic region is exceptionally well suited for the production of synthetic fuels due to the low cost of electricity, the high share of renewables in the energy mix and the large availability of water. With the Alby project, we are acquiring a very attractive site – both in terms of location and commercial conditions – in Sweden, which will enable the development of a large-scale Power-to-X plant in close co-operation with RES,” said Dr Mathias Bimberg, head of infrastructure and managing director at Prime Capital.

The Alby hydrogen plant, powered by 500 MW of renewable energy from the Tovasen substation, will utilize electrolysis to produce green hydrogen. This hydrogen, combined with captured carbon dioxide, will be further processed into sustainable aviation fuel (eSAF).

“This is a great day. 500 MW capacity allows for a significant renewable aviation fuel production. In a broader perspective, is an important step in the transition to fossil-free fuels. For RES Nordics, this hydrogen development agreement with Prime Capital is a final exam. A final exam which we passed with honors, indicating that RES Nordic develop marketable, attractive and sustainable energy projects that also create positive socio-economic effects in places like Ange,” said Matilda Afzelius, CEO of RES in the Nordics.

This partnership between RES and Prime Capital builds on their successful collaboration on other energy projects, including the nearby Bjornberget Vindkraft AB.

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