Finnish energy firm Neste will construct a 120MW renewable hydrogen electrolyser at its Porvoo refinery base.
This is electrolyser will provide green hydrogen energy to the plant. Neste executive vice president of oil products Markku Korvenranta said: “The green hydrogen would be primarily used in our Porvoo refinery’s processes, where it would replace hydrogen produced from fossil feedstocks”. Further to this, the firm is looking to partner with regional energy firm Porvoon to use heat generated in the electrolysis process for local heating.
The firm aims to make the refinery, that processes both fossil and renewable energy sources, into the leading green refinery in Europe. Korvenranta added: “Our project is one of the largest development projects to produce green hydrogen out of the European refineries, and it supports our goal to transform the Porvoo refinery to the most sustainable refinery in Europe by 2030.”
This company received the Important Project of Common European Interest (IPCEI) status by the European Commision for the project. This allowed the company to receive $30.5m from the Finnish government with the aim of developing hydrogen technology at Porvoo.
This is the latest development in a company-wide shift towards renewable energy. Neste’s Rotterdam location was the target of a $1.9bn expansion in June 2022 to increase production of sustainable aviation fuel. The company is already Europe’s largest producer of aviation-targeted biofuel.
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In September, the firm began a strategic study for the viability of ceasing all oil production in the Porvoo refinery. Producing 206,000 barrels per day, Porvoo is Neste’s only crude oil refinery. Instead, the company will shift its focus towards renewable feedstocks. The study found the potential for a post-phase renewable feedstock processing capacity of 2-4 million tonnes per year.