Alpiq buys 54.9% of Finland’s P2X Solutions


April 12, 2024

Swiss energy group Alpiq has bought a 54.9% stake in Finnish green hydrogen developer P2X Solutions.

Alpiq said it is looking to strengthen its position in the emerging green hydrogen and power-to-X sector in northern Europe. It has concluded the deal through a capital increase at P2X Solutions and the acquisition of a minority stake from an institutional investor. Alpiq also has the option to increase its stake to 100% by 2028.

P2X Solutions is building the first industrial-scale green hydrogen plant in Finland, in the town of Harjavalta, which is due to be operational in 2025.

Amédée Murisier, member of Alpiq’s executive board, said: “We are glad that we can consolidate our position in Finland… and can make a significant contribution to integrating renewable energy.”

Herkko Plit, chief executive of P2X Solutions, said: “Alpiq is a significant European energy company, and we are very excited to partner with them. Establishing a strategic partnership with Alpiq substantially strengthens our position and ability to scale up our business. Furthermore, with Alpiq we can optimise our value chain of renewable electricity, green hydrogen and e-fuels.”

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