A Finnish company’s giant deal can open doors for others too – “Your head opens the game big”

Finnish Nordic Rhine-Gasin and German By Avanca Energy AG the contract worth one billion is exceptional in terms of scale, says the vice president of the German-Finnish Chamber of Commerce Lotta Westerlund.

“The companies have signed an agreement today, the scale of which is such that this kind of gas export has never been done in Finland before,” says Westerlund.

Oh boys investments

According to Westerlund, the agreement can increase not only the export of hydrogen and its derivatives, but also foreign investments in Finland.

“When Germany wakes up to what potential Finland has in the production of clean energy, it can spawn foreign investments in Finland.”

According to him, it could be not only data centers but also investments in other industries as well as cooperation and development related to technology. According to Westerlund, the agreement also serves as an opening for other companies in the Finnish energy sector.

“Nordic Ren-Gas was able to open the game in a big way. I hope and believe that we will see a lot more of these in the future.”

The Chamber of Commerce was not in agreement

According to Westerlund, the German-Finnish Chamber of Commerce had no direct role in the creation of the agreement.

“This business was born completely independently of us. The companies found each other. But for a long time in Germany we have been highlighting the fact that here in Finland there is really huge potential,” he says.

In February, Finland and Germany signed a declaration of intent regarding hydrogen cooperation between the two countries. According to Westerlund, the Ren-Gas contract is the first concrete indication that the cooperation is also beginning to be seen in practice.

According to him, the timing of the deal was particularly influenced by the fact that the regulation regarding the distribution obligations of renewable fuels was tightened in Germany. This has increased the demand for e-fuels and the need to find new European suppliers.