The European Investment Bank (EIB) has increased its financing framework for Finnish green hydrogen and e-methane project developer Ren-Gas to EUR 680 million (USD 791.3m) from EUR 230 million previously.

The framework is designed to provide project-level debt financing for Ren-Gas' portfolio of e-methane projects in Finland. The financing approval comes as the company prepares to move its first project into construction in the fourth quarter of 2026, a plant in Tampere, southern Finland.

Ren-Gas develops RFNBO-compliant e-methane projects that convert renewable hydrogen and captured biogenic CO2 into renewable gas for heavy transport, maritime and other hard-to-abate sectors. Its project portfolio consists of six projects at home.

The company said it has secured long-term off-take agreements for green hydrogen and heat from its projects, providing a basis for project financing. Its customer base includes, among others, European renewable LNG platform avanca Energy.

Source: FuelCellsWorks