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Polenergia SAPolenergia renewables closes green hydrogen storage project
Listed renewables group Polenergia has decided to discontinue the project called 'H2 HUB Nowa Sarzyna: Green Hydrogen Storage', for which a funding agreement has been concluded with National Center for Research and Development (NCBiR), the company said in a market filing.
It was reported that as of the date of the decision to discontinue the project, it is in the second of the three phases envisaged in the contract.
"The current prospects for the project are not likely to result in the completion of the tasks assigned to the second phase by the indicated date," Polenergia wrote.
Polenergia indicated that the main reasons which, in the group's opinion, make it unreasonable to continue work on the project, include a significant extension of delivery times and a limitation in the availability of technological components necessary for the project, the delivery of which is not within the schedule adopted under the competition.
In 2022, it was reported that a consortium of Polenergia and its subsidiary for combined heat and power plant, Polenergia Elektrocieplownia Nowa Sarzyna, entered into an agreement with the National Centre for Research and Development for the co-financing of a project entitled H2 HUB Nowa Sarzyna: Green Hydrogen Storage. The total amount of potential grant funding for the project was PLN 95.1 million (EUR 24.3 mln).
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