Raahe, Finland – Raahen Satama Oy, Northern Europe Energy Group AS, and Infinergies Finland Oy have signed a Memorandum of Understanding (MoU) to jointly explore the development of large-scale Power-to-X and related industrial projects at thePort of Raahe.
The parties to the MoU aim to develop substantial energy industry projects in the Port of Raahe. The agreement establishes a framework for early-stage development through feasibility studies, land allocation, and the potential future implementation of renewable energy-based industrial solutions within the port area. The collaboration will build on Raahe’s strong industry potential, strategic location, port infrastructure, and business ecosystem to support Finland’s and Europe’s green transition.
Under the MoU, the parties will lead technical, economic, and environmental feasibility assessments that will be the basis for next steps of development. Raahen Satama Oy will provide access to designated land areas and facilitate engagement with local stakeholders, while Northern Europe Energy Group AS and Infinergies Finland Oy will independently develop project concepts with a focus on scalable and commercially viable Power-to-X solutions.
The agreement also includes a structured milestone process towards a final project concept.
Seppo Vehkaoja, CEO of Raahen Satama Oy, said:
“This is the first step in developing new Deep Port area as a green industrial zone.The area is one of the most important industrial development areas in Raahe. Port of Raahe and City of Raahe support strongly this strategic agreement with both parties. Deepening of the fairway to Raahe is under planning. It is vital for the developers to secure well-functioning sea transportations in the future.”
Thor Magnus Rovik, CEO of Northern Europe Energy Group AS, said:
“This collaboration marks an important step in building our Nordic–Baltic platform for large-scale green industry development. Raahe offers a unique combination of port infrastructure, industrial capability, and access to renewable energy.Together with Raahen Satama and Infinergies, we want to accelerate the transition to sustainable energy systems and create long-term industrial value.”
Martin Stuke, CEO of Infinergies Finland Oy, said:
“This cooperation marks a significant milestone for Infinergies Finland Oy. It enables us to leverage the Port of Raahe’s strong infrastructure and expand the value chain from renewable energy into Power-to-X solutions. Deeper harbour channels would further support the development of new industries. At the same time, this cooperation strengthens Finland’s energy independence and increases the availability of renewable energy derivatives for distribution beyond Finland.”
The initiative reflects a shared ambition to develop integrated energy and industrial solutions, including hydrogen and otherPower-to-X applications, in line with EU climate goals and regional decarbonisation strategies.
About Raahen Satama Oy
Raahen Satama Oy is City owned company, which manage the port. The Port of Raahe, one of Finland’s leading cargo ports in the Bothnian Bay, serving around 600 vessel calls annually. The port handles bulk cargo, steel, timber, project shipments, and wind turbine components, and consists of three harbour areas: the deep-water port, Lapaluoto, and SSAB harbour. With year-round accessibility, excellent road and rail connections, and ongoing investments such as a new deep quay and assembly areas, the Port of Raahe is well positioned to support industrial growth and large-scale energy projects.
About Northern Europe Energy Group AS
Northern Europe Energy Group AS is a Nordic–Baltic energy company focused on large-scale renewable energy, green hydrogen, and integrated industrial solutions. The company develops Powerto-X projects, hydrogen production, battery energy storage systems (BESS), data centers, and related infrastructure, with a strong emphasis on circular resource utilization and industrial symbiosis. The company has an active project portfolio acrossFinland and the Baltics, managing a substantial portfolio with over 4 GW grid capacity and strategically positioned to capitalize on the rapidly growing demand for green hydrogen and sustainable industrial infrastructure in Northern Europe.
About Infinergies Finland Oy
Infinergies Finland Oy is active in the planning, development, and implementation of renewable energy projects in Finland. The company works closely with landowners, municipalities, investors, and other relevant stakeholders, and brings extensive experience and a proven track record in the Finnish renewable energy sector. Since its establishment in 2010, Infinergies has contributed to the realization of 697 MW of wind power. In addition, the company currently has 126 MW of wind projects ready to build, including 80 MW of Battery Energy Storage System (BESS), a 95 MW BESS project under realization, and a further 1.5 GW in an advanced stage of development.
