BDO advises Friesen Elektra Energy AG on project for industrial production of green hydrogen
BDO advises Friesen Elektra Energy AG on project for industrial production of green hydrogen
BDO has advised Friesen Elektra AG on tax matters in connection with the Anker project – a partnership with Copenhagen Infrastructure Partners for the construction of a green hydrogen production plant in Lower Saxony.
A multidisciplinary tax team from BDO has advised on both the tax structuring and the negotiation of the purchase agreement from a tax perspective.
The Anker project is a project for the industrial production of green hydrogen in Sande, near Wilhelmshaven, in Lower Saxony. It is planned to produce 80,000 tonnes of green hydrogen there annually, which will benefit important German industries – such as the steel and chemical industries – as well as the transport sector.
The plant will be powered by renewable energy from the grid, supported by offshore and onshore wind energy and solar energy. By replacing fossil fuels with green hydrogen, the project can reduce CO₂ emissions by up to 2.4 million tonnes per year, which is equivalent to the emissions of around 340,000 households.
Friesen Elektra AG is a renewable energy producer that has been generating renewable energy from a wind farm in northern Germany since 1999. The company is part of the Gödens Group, which has developed over the last 20 years from a purely agricultural company into a diversified group of companies in Lower Saxony.
Consultants involved on the BDO side:
A multidisciplinary tax team from BDO has advised on both the tax structuring and the negotiation of the purchase agreement from a tax perspective.
The Anker project is a project for the industrial production of green hydrogen in Sande, near Wilhelmshaven, in Lower Saxony. It is planned to produce 80,000 tonnes of green hydrogen there annually, which will benefit important German industries – such as the steel and chemical industries – as well as the transport sector.
The plant will be powered by renewable energy from the grid, supported by offshore and onshore wind energy and solar energy. By replacing fossil fuels with green hydrogen, the project can reduce CO₂ emissions by up to 2.4 million tonnes per year, which is equivalent to the emissions of around 340,000 households.
Friesen Elektra AG is a renewable energy producer that has been generating renewable energy from a wind farm in northern Germany since 1999. The company is part of the Gödens Group, which has developed over the last 20 years from a purely agricultural company into a diversified group of companies in Lower Saxony.
Consultants involved on the BDO side:
- Dr Michael Brauer - Partner Tax & Legal / Transaction Tax
- Martin Engel - Partner Tax & Legal / Family Businesses and Private Assets
- Stefan Hillebrand - Partner Tax & Legal / Oldenburg Region