TES raises €65mn to advance German gas import project
FID on green gas terminal at Wilhelmshaven expected next year as investors including HSBC and Eon back project
Belgium-based Tree Energy Solutions (TES), which is developing a clean energy import hub at the northern German port of Wilhelmshaven, has raised €65mn ($66mn) from a group of investors including banking group HSBC and energy company Eon. TES says the new capital should enable it to take FID by the end of next year on the project, which will initially import LNG before switching to synthetic methane for conversion to green hydrogen. Other investors joining the latest fundraise include Milan-based investment bank Unicredit and Zodiac Maritime, a London-based shipping company. “Our sustainable business model has attracted the interest of world-class industrial and financial players, demonstrat
Also in this section
24 April 2024
Demand for energy purposes to outpace feedstock applications by the 2040s as government policies drive consumption, says DNV
24 April 2024
Danish firm joins growing list of European electrolyser manufacturers establishing production in US as IRA incentives prove strong draw
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter