JLEN: Second green hydrogen investment

10th July 2023 | JLEN Environmental Assets (FTSE 250)

JLEN Environmental Assets Group theFTSE 250-listed environmental infrastructure fund, has announced an investment of up to €9.2m into the Company’s second green hydrogen development opportunity, also in Germany, alongside a consortium including other Foresight managed funds and its development partner HH2E, a specialist in developing green hydrogen projects to decarbonise industry.

The green hydrogen production site is capable of producing over 6,000 tonnes of green hydrogen per annum during the first 100 MW phase, which will encompass electrolysis and integrated high-capacity battery storage. Subsequent expansion phases are expected to increase capacity to over 1 GW, with annual production exceeding 60,000 tonnes of green hydrogen.

This follows an announcement made in January to invest in the Thierbach green hydrogen project near Borna in Germany in partnership with HH2E. Both opportunities are expected to provide attractive returns compared to the portfolio average.

Ed Warner, Chair of JLEN, said:

“We are pleased to be making good progress with our partnership with HH2E, which is poised to become one of the largest producers of green hydrogen in Europe. They have a deep understanding of the sector and they are highly capable of developing attractive opportunities to unlock value for investors. Hydrogen has an important role to play in decarbonising heavy transport, industry, and other hard-to-abate sectors of the economy. Investing in this sector will remain an important near-term focus for the Company as we continue to assess opportunities to recycle capital within the portfolio.”

Below is an interview with Foresight Group, the manager behind the Trust who talk us through the highlights from JLEN’s Annual Report, an outlook and why the case for investment in sustainable infrastructure has never been stronger.