H2Apex completes aquisition of 1GW Lubmin hydrogen project from insolvent HH2E
H2Apex Group has completed the acquisition of a second green hydrogen project in Lubmin, Germany, from the insolvent HH2E.
The Rostock-based project developer has promised to continue plans for the 1GW production plant. H2Apex is already working on a 100MW project in north east Germany, which could scale up to 600MW in the future.
Through its 100% subsidiary, Apex Nova Holding, the company has become the sole owner of all shares in HH2E Werk Lubmin in a deal worth €7m ($8.2m).
Following HH2E’s insolvency earlier this year, after plans for self-administration were initiated due to collapsed funding talks with its majority shareholder for the 1GW Lubmin project, the company saw H2Apex acquire the project in March.
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