The City of Oulu, Finland, has entered into a co-operation agreement with French company Verso Energy to construct Finland’s largest hydrogen processing plant, further solidifying Oulu’s status as a leading hydrogen hub in the Nordics. The agreement was signed at the Northern Power forum, underscoring Oulu’s strategic role in the green transition.
The Verso Energy plant, to be located in the port area of Oulu, will feature a production capacity of 80,000 tonnes of e-SAF (electrofuels for sustainable aviation fuel) annually. The €1.4 billion project is set to create 250 new jobs, enhancing local economic growth and contributing to Europe’s green energy goals.
Antoine Huard, CEO of Verso Energy, expressed enthusiasm for the project, stating:
“Finland is a very attractive country for e-SAF production, and the Oulu site has all the qualities to be a very competitive site at the European level. Successful collaboration with the City and Port of Oulu has been key to the project’s development, showcasing Finland’s potential to combine job creation, industrial growth, and sustainability.”
The plant will be Verso Energy’s first major international project, with the company already developing several hydrogen and synthetic fuel plants in France. The Oulu facility will produce synthetic fuels for both aircraft and maritime vessels, addressing the growing demand for sustainable aviation fuel (SAF), especially as the EU mandates a 2% SAF blend at its largest airports starting this year.
Strategic Support from Local Authorities
The agreement includes the City of Oulu’s commitment to advance zoning in the Port of Oulu’s green transition industrial area, ensuring the project aligns with the city’s sustainability goals.
Marko Kilpeläinen, Director of Urban Environment Services for Oulu, highlighted Finland’s efficient processes as a competitive advantage for green investments:
“In Finland, the zoning process can run parallel to a company’s project planning, offering more flexibility compared to some other countries.”
The co-operation agreement will remain in effect until the end of 2026, allowing both parties to finalize the implementation agreement, including threshold investments and responsibility sharing.
Ari Alatossava, Mayor of Oulu, expressed optimism about the project’s progress:
“I am glad that Verso’s project has progressed so smoothly. This indicates that our city has a valuable role to play in the green transition. I want to thank our experts for their efforts so far and Business Finland for facilitating the contact with Verso Energy.”
This project is a significant milestone in Oulu’s journey to becoming a green energy leader, contributing to Europe’s decarbonization targets and providing a model for international collaboration in the hydrogen sector.
