Renewable Hydrogen: Qair acquires 50% stake in Orkan’s hydrogen refuelling station subsidiary and extends its presence in Iceland
Reykjavik, 6 September 2023 – Qair, a European renewable energy producer, announces its acquisition of a 50% stake in Íslenska vetnisfélagið, a subsidiary of Orkan, the only provider of hydrogen refueling solutions in Iceland. Along with the development of its green hydrogen production project in Grundartangi, this strategic move will enable Qair to expand its presence in the Icelandic market and to support the country’s ambitious transition to a more sustainable future.
6 green hydrogen stations around Iceland
Together through a joint venture Qair and Orkan intend to develop a pilot hydrogen infrastructure project, a pioneering model that could be replicated in other countries. With 2 hydrogen refuelling stations for trucks and passenger cars already in operation in the greater Reykjavik area, the Íslenska vetnisfélagið’ project will commission 4 new stations within the next couple of years in Reykjavik, Akureyri, Egilsstaðir and Freysnes, and develop an integrated distribution and production system to service these stations.
Driving around Iceland while emitting only water vapor and no harmful emissions will become a reality by 2026, thanks to Íslenska vetnisfélagið’s refuelling stations network offered for hydrogen-powered vehicles along the whole Ring Road of Iceland, with the longest distance between stations amounting to approximately 380 km.
“We are happy to join forces with Orkan, the first distributor of hydrogen for commercial mobility in the world. The company has a fully developed network of gas stations in Iceland which makes it a very interesting partner says Tryggvi Thor Herbertsson, Chairman of Qair Iceland. This new hydrogen infrastructure project will position Iceland as the first country in the world to enable hydrogen transportation across its entire territory with zero carbon emission.”
Local Green Hydrogen production in Grundartangi
To supply the stations, Íslenska vetnisfélaðið will develop a 5MW hydrogen electrolysis project in Grundartangi, one of Iceland’s leading industry areas. The site has already been secured by Qair as a part of a larger electrolysis project and the legally required environmental assessment has started.
Qair is an independent renewable energy producer developing, financing, building, and operating solar, onshore and offshore wind, hydroelectric, tidal energy, energy-from-waste and green hydrogen production and storage projects.
With more than 1 GW of capacity in operation or under construction, the group’s 550 employees are developing a portfolio pipeline of 30 GW in 20 countries across Europe, Latin America and Africa. Our ambition is to become an independent global leader in responsible energy.
About Qair in Iceland
Qair Iceland ehf is operating since 2017 and is the largest wind power developer in the country with a pipeline of over 780MW. The company aims at helping the country to reach its full wind power potential and to diversify its renewable supply, currently based on geothermal and hydroelectricity. In addition, Qair Iceland has become the largest shareholder of Arctic Hydro, an Icelandic developer of hydroelectricity, and is also active in energy trading in the country.
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