H2CRETE Valley Project

H2CRETE Valley is a pioneering project focused on a large-scale Green Hydrogen production plant of 100 MW, located in Atherinolakos, Crete Island, Greece. This project will positively impact the Cretan and European economies, serving four End-Markets: Public Mobility, Navy, Export, and Power Generation. The project is supported by several institutions, including an international engineering company, RINA, selected by ProEuropean Trading as advisor for technical and financial feasibility.

Link to website

LEAD DEVELOPER

ProEuropean Trading GmbH

PROJECT PARTNERS

ProEuropean Trading GmbH is negotiating with potential Tranportation/Storage/Distribution Project Partners.

ProEuropean Trading GmbH is negotiating with potential End-Users (e.g., Refueling Station Companies, Transportation companies, Shipowners, Ports, Industries, etc.).

MAIN POLITICAL SPONSORS

H2CRETE Valley Project is supported by Region of Crete, Foundation for Research and Technology - Hellas (FORTH), Hellenic Mediterranean University, and Hydrogen Europe.

MAIN LOCATION

Greece

OTHER LOCATIONS

Project details

H2 PRODUCTION VOLUME

[T/year]:

13,500

INVESTMENT VOLUME

[M€]:

360.00

FUNDING

VALUE CHAIN COVERAGE

PRIMARY ENERGY SOURCING

Electricity from onshore wind

H2 PRODUCTION

Water electrolysis with PEM electrolyser

H2 STORAGE

Cylinder - Compressed H2
Cylinder - Ammonia

H2 TRANSPORT

Trucking - Compressed H2
Trucking - Ammonia
Ship - Ammonia

H2 DISTRIBUTION FOR MOBILITY

END USES

MOBILITY

Cars
Buses
Trucks

ENERGY

Other

INDUSTRIAL FEEDSTOCK

Supply to other industries

Project timeline

CURRENT STATUS:

Feasibility study ongoing

2014

2020

Start of project development

2028

Project finalization

2035

KEY SUCCESS FACTORS

PROJECT DEVELOPMENT PHASE

Business model/business case development
H2CRETE Valley Project will have direct and unique access to low-cost RES, due to its strategic location in Atherinolakos (Crete island - Greece). This will reduce the Levelized Cost of Hydrogen (LCOH) compared to that of EU competitors.
Funding
ProEuropean Trading GmbH has already secured €360M in Shareholder Loan.
Experienced staff
H2CRETE Valley Project development is supported by the executives and technical team of ProEuropean Trading GmbH, a consulting engineering team, and representative from academics and research centres.
Local public acceptance
H2CRETE Valley Project is a well-known project to academics and regional authorities. The project has already received positive feedback from different stakeholders.
Stakeholder cooperation
H2CRETE Valley Project is well accepted from top-tier technology providers.

COMMERCIAL AND FINANCING PHASE

Applying for public subsidy/grant schemes
H2CRETE Valley Project development is supported by a consulting company, covering identification and application to eligible public subsidy/grant schemes.
Securing private investors
ProEuropean Trading GmbH has already secured €360M in Shareholder Loan.
Building a financial model
H2CRETE Valley Project development is supported by a consulting company, covering Financial Modelling activity.

Go back to Hydrogen Valleys Contact

N.A.: Not available. This is possible due to two reasons: a) the Hydrogen Valley chose to not publicly display the data or b) the Hydrogen Valley did not answer the specific question in the associated survey.