French electrolyser maker McPhy has announced and abandoned a 24MW green hydrogen project in Central Europe in the space of seven days.
The company announced on 25 September that is had signed “an agreement with a key player in the energy sector for the supply, assembly and commissioning of two ‘McLyzer 3200-30’ [pressurised alkaline] electrolysers with a capacity totalling 24MW to be operated in Central Europe”.
The final investment decision was expected by the end of this year, with commissioning due to 2026, said a press release, adding that the deal with the unnamed developer “represents a significant step forward for McPhy in the pursuit of its scale-up”.
However, a week later, on 2 October, McPhy announced that the project had been abandoned “due to the unexpected last-minute withdrawal of the off-taker of the green hydrogen”.
The sale would have been worth about €20m ($22m) — a big financial boost for a company that only took €13m of firm orders in 2023, but has recently inaugurated a new 1GW factory in Belfort, France, and increased production capacity at its Italian factory to 300MW a year.
Shares in the French company were trading at €1.90 at time of publication, their lowest level since late April.
