HomeNewsIqony Plans Three Hydrogen-Ready Gas Plants in Germany

Iqony Plans Three Hydrogen-Ready Gas Plants in Germany

2/29/2024

(Reuters) — German firm Iqony plans to build gas-fired plants at three existing sites, a company spokesperson said on Thursday, becoming the latest firm to seek a slice of the government's planned tender for 10 gigawatts (GW) of new capacity.

"We are preparing to build new hydrogen-ready gas plants at Bergkamen as well as in Bexbach and Quierschied-Weiher," the spokesperson said in reply to an enquiry.

"Put together, the plants would have a capacity of around 2.5 gigawatts (GW)."

Germany's Frankfurter Allgemeine Zeitung newspaper reported the locations earlier.

A switch to clean hydrogen from polluting fossil fuels is part of Germany's plans for the green energy transition.

Iqony was spun off from coal-fired power producer Steag as part of a sales process to Spanish investor Asterion and includes renewable power, hydrogen and energy storage assets.

If and how its three planned plants take shape will depend on conditions attached to the government strategy ahead of its planned tenders this year, the Iqony spokesperson said.

Interested parties have urged the government to clarify how a capacity mechanism meant to kick in in 2028 would work.

The mechanism will provide remuneration for capacity that will only run part-time as renewable power gets priority.

Sector peer Uniper on Wednesday said it might develop between 1-2 GW of capacity provided the conditions are right.

The plans are part of Berlin's bid to persuade producers of domestic brown coal to close plants earlier than the official deadline of 2038 and ensure that the closure of hard-coal power plants can happen by 2030.

Iqony also said it was planning electrolysis plants for hydrogen at Duisburg-Walsum and Voelklingen-Fenne, and big power batteries at Duisburg-Walsum and Bexbach, among other projects.

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