Fortum to Deliver Renewable Energy to P2X Solutions’ Green Hydrogen Plant

FORTUM CORPORATION PRESS RELEASE 30 JANUARY 2025

Fortum and Finnish green hydrogen company P2X Solutions have signed a five-year Power Purchase Agreement (PPA). The agreement enables P2X Solutions to produce green hydrogen according to strict EU criteria at its Harjavalta site in south-western Finland, which is currently ramping up its production. The power will be sourced from Fortum’s renewable energy portfolio in Finland, and the agreement includes the corresponding Guarantee of Origins.The contract term runs until the end of 2029.

EU regulations for renewable hydrogen (RFNBO) mandate that renewable energy production and consumption for green hydrogen must be matched on a monthly basis until 2029, after which the matching will be required on an hourly basis. The agreement covers the initial power needs by P2X Solutions’ green hydrogen production plant. With this agreement, green hydrogen production in line with RFNBO regulation, will start in Finland.

“At Fortum, our strategic priority is to support our clients in their journey towards decarbonisation. The agreement with P2X Solutions exemplifies the power of collaboration in overcoming these challenges. Coordinating the physical delivery of renewable energy from specific power plants to designated consumption sites involves aligning multiple systems. We are pleased to support the new plant with the initial volumes of renewable energy,” says Urs Pennanen, Senior Vice President of Corporate Customers at Fortum.

“Our investment in Harjavalta opens the Finnish green hydrogen market and is a step towards a carbon-neutral welfare society,” says Herkko Plit, CEO of P2X Solutions. “By leveraging Fortum’s renewable energy, we are able to provide our clients with the green hydrogen needed to transition to cleaner production methods. This partnership not only highlights our shared vision for a sustainable future but also demonstrates the critical role of green hydrogen in reducing carbon emissions across various industries.”

Fortum Corporation
Communications

Further information:
Fortum News Desk, newsdesk@fortum.com, +358 40 198 2843
Herkko Plit, CEO, P2X Solutions Oy, herkko.plit@p2x.fi

Fortum 
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com

P2X Solutions is a Finnish pioneer in green hydrogen and Power-to-X technology. We are accelerating the rise of the hydrogen market holistically and innovatively in all areas of the value chain. In 2024, we will open Finland’s first industrial-scale green hydrogen and synthetic methane production plant in Harjavalta.We operate as a producer and distributor of green hydrogen and synthetic fuel.We are making the world cleaner—together.  https://p2x.fi/en/