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.
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

No

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

    Start of project development

    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.

    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.
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