Hydropulse signs heads of terms for 150 MW green hydrogen project
In the UK, ITM Power announced that its Build, Own, Operate (BOO) subsidiary, Hydropulse, has signed Heads of Terms with a European oil refinery for a large-scale green hydrogen project.
The project in development comprises 150 MW of ITM Power’s Alpha electrolyzer platform to produce green hydrogen on site under a 10-year agreement, the firm said.
The parties are already progressing a joint Front End Engineering Design (FEED) study and are targeting Final Investment Decision (FID) in 2027, with hydrogen production expected to commence in 2029.
The project is planned to be built, owned and operated by Hydropulse, generating long-term contracted and recurring revenues for ITM Power. “Our customer is planned to provide the site and utilities, including power, mitigating Hydropulse’s exposure to electricity price volatility. We are in constructive discussions with banks on project-level financing to enable us to scale Hydropulse in a capital-efficient way,” ITM Power said.
Category: Hydrogen
