H2CRETE Valley Project

H2CRETE Valley is a pioneering, large-scale 100 MW green H2 and green NH3 production project, located in Atherinolakos, Crete, Greece. This project will positively impact the Cretan and European economies, serving local and foreign End-Markets: Port, Storage, Mobility, Shipping, Cement, Brokerage. The project is supported by several institutions, including local authorities like Region of Crete, industry associations as Hydrogen Europe, and the international engineering company, RINA.

Link to website

LEAD DEVELOPER

ProEuropean Trading GmbH

PROJECT PARTNERS

ProEuropean Trading GmbH signed a pre-agreement with hydrogen and ammonia production packages with leading technology-suppliers.

ProEuropean Trading GmbH signed a pre-agreement with a shipping transportation company, capable to carry green ammonia and import terminals able to storage and distribute green ammonia.

Green ammonia will be exported to multiple industrial end-users such as port logistics, storage hub, mobility, shipping companies, cement producers.

MAIN POLITICAL SPONSORS

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

MAIN LOCATION

Greece

OTHER LOCATIONS

Project details

H2 PRODUCTION VOLUME

[T/year]:

14,000

INVESTMENT VOLUME

[M€]:

434.00

FUNDING

VALUE CHAIN COVERAGE

PRIMARY ENERGY SOURCING

Electricity from solar PV
Electricity from onshore wind

H2 PRODUCTION

Water electrolysis with PEM electrolyser

H2 STORAGE

Cylinder - Compressed H2
Cylinder - Ammonia

H2 TRANSPORT

Ship - Ammonia

H2 DISTRIBUTION FOR MOBILITY

END USES

MOBILITY

Cars
Buses
Trucks
Forklifts
Ships

ENERGY

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 connect upstream, midstream, and downstream value chain, from RES to end-use.
Technological readiness/technological performance (e.g. availability, efficiency, duration/lifetime)
ProEuropean already selected key technologies characterized by a strong track-record and a high TRL (8/9), ensuring project maturity.
Permitting and authorization procedures
ProEuropean is in contact with a local civil engineering company, expert in local permitting activities.
Funding
ProEuropean Trading GmbH has already secured €100M in Shareholder Loan and €240M in Equity.
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 centers.
Local public acceptance
H2CRETE Valley Project is a well-known project to academics (Hellenic Mediterranean University & FORTH), regional authorities (Region of Crete) and Governamental bodies.
Stakeholder cooperation
H2CRETE Valley Project is well accepted from top-tier technology providers, energy suppliers and Off-takers.

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 €100M in Shareholder Loan and €240M in Equity.
Building a financial model
H2CRETE Valley Project development is supported by a consulting company, covering Financial Modelling and Forecasting activities.

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.