Germany desperately needs new forms of energy, and Finland has to offer them in the future. We interviewed business representatives about future opportunities.
DÜSSELDORF There was clear optimism in the air when Finnish energy industry leaders and decision-makers jumped out of a private bus at Classic Remise, Düsseldorf’s classic car exhibition center, early Thursday morning.
They came in a group of dozens to meet their German colleagues in Düsseldorf, the heart of the energy industry.
Among others, Uniper, that troubled company owned by Fortum in the past years, has its headquarters here – but we don’t let that get in the way.
– We have good relations with Germany. This is a large economic area, and we have many Fortum representatives here too, so we have very good relations, Fortum’s hydrogen business manager Fairy tale Sipola convince.
Finland now has something that Germany desperately wants: emission-free, renewable energy.
Hydrogen can save
The future of the German economy looks bleak as one company after another has reported weak results and shrinking production this fall.
Expensive energy is thought to be one of the biggest reasons. Germany would have to find cheaper and also more reliable forms of energy than oil, coal or gas.
So far, the country has been stuck with fossil fuels. An impasse was reached when there is no more cheap energy coming from Russia, and the nuclear power plant has also been closed.
Green hydrogen can help, as long as the infrastructure for its implementation is ready.
– This is a huge opportunity that creates jobs and security, CEO of Gasgrid Olli Sipilä says.
– This hydrogen entity could bring investments of over one hundred billion euros to Finland. Let’s talk about a truly new industry for Finland.
Who pays?
The German-Finnish Chamber of Commerce organized Thursday’s meeting specifically around fossil-free energy because the Finnish energy sector is now the one with the best opportunities to do business in Central Europe in the future.
– Germany cannot become carbon neutral as quickly as Finland, it is simply impossible, CEO of energy giant E.ON Leonhard Birnbaum emphasized.
Here is a business opportunity for Finnish hydrogen. In the future, Germany will have to import up to 70 percent of all the hydrogen it needs from abroad.
Before that, large investments are needed in the transport network for hydrogen and products processed from it. Companies don’t have that kind of money, Birnbaum said.
Help is hoped for from the EU and other public funding sources such as the European Hydrogen Bank.
“A deal ten times bigger than Nokia”
Finland is planning hydrogen pipelines across the Baltic Sea and through the Baltic, which would create a connection between Finland and Germany.
The goal is that the pipes could be ready in five years, i.e. 2030.
– For example, Åland could have the energy islands of the future, because there is both wind power and hydrogen storage potential, E.ON director Birnbaum said in Düsseldorf.
President of the Hydrogen Cluster Simo Säynevirtan in my opinion, Finland now has all the trump cards to turn green hydrogen into a big profit.
– This is going to be bigger than Nokia ever was, this is ten times bigger, Säynevirta compares.