The acquisition includes the project company, environmental permits and lease agreement, as well as “external financing”, with HYDS aiming to produce the first molecules in 2029.

Statkraft began developing the project after inking a deal with the Port of Gothenburg in 2021 to explore setting up production in the port area.

The facility is planned with 5–10MW of electrolyser capacity, which could produce up to four tonnes of green hydrogen. HYDS said the site could help reduce carbon dioxide emissions by up to 60 tonnes per day.

Hydrogen produced by the plant is expected to be sold to “external customers,” with no buyers yet mentioned.

However, the Port of Gothenburg already hosts a 1,500kg per day public refuelling station, serving vehicles and machinery within the port.

“By building an electrolyser in the port, we are taking an important step towards making green hydrogen available where it is truly needed,” said HYDS CEO Frode Kirkedam.

HYDS hopes to take final investment decision (FID) in the first half of 2027.

It adds to the company’s growing portfolio of mature green hydrogen projects. In November, the firm took FID on two 20MW projects in Norway that are set to supply maritime, transport and industrial sectors.