Gen2 Energy (Norwegian project developer) has received confirmation of a 150 MW grid capacity reservation for its green hydrogen production project at Monstad in Åfjord municipality, Norway, marking what the company describes as a significant milestone on the path toward a final investment decision.

Capacity Reservation Tied to Existing Grid Infrastructure

The confirmed reservation relates to the existing power grid and is designed to secure grid capacity for the Monstad project. The planned facility is positioned to produce up to 60 tonnes of liquefied green hydrogen per day.

Gen2 Energy credited Statnett, Tensio, and Åfjord municipality for their collaboration in reaching this point, expressing thanks for what it called strong and constructive engagement from all three parties. The announcement was made on 11 May 2026 from the company's base in Åsgårdstrand, Norway.

CEO Points to Predictability as Key Outcome

Lena Halvari, CEO of Gen2 Energy, described the capacity reservation as providing the predictability the company needs to advance the project. "This is an important milestone for Gen2 Energy and for the Monstad project.

We have worked in a focused and systematic manner over time to reach this point, and the capacity reservation provides the predictability we need to move the project further towards a final investment decision and construction start," Halvari said.

She added that the project is expected to contribute to emission reductions and local value creation both during construction and once the plant is operational.

Halvari also highlighted the role she sees green hydrogen playing in decarbonizing specific sectors. "To succeed in reducing emissions, green hydrogen must be made available at scale.

The capacity reservation in Åfjord is an important step in that direction," she said, pointing in particular to maritime transport as a sector where green hydrogen can make a meaningful contribution.

Green Hydrogen Targeting Maritime, Mobility, and Industry

Gen2 Energy describes green hydrogen as a zero-emission fuel applicable across several sectors, including maritime, mobility, and industry, and states that it can make a significant contribution to reducing CO₂ emissions.

The company's broader ambition is to establish a complete hydrogen value chain in Norway, targeting those three sectors, with the goal of supporting both Norway's and the European Union's climate targets. The company states that the realization of its projects could enable a substantial contribution to emission reductions, including in Norwegian shipping.

Monstad Is One of Four Coastal Locations in Gen2 Energy's Portfolio

Gen2 Energy is a project development company with four locations along the Norwegian coast. The company's total portfolio stands at 995 MW across those sites. The Monstad project in Åfjord municipality is one component of that broader development pipeline.

The company describes itself as dedicated to developing, building, owning, and operating an integrated value chain for green hydrogen, with the aim of establishing several large-scale production facilities in Norway alongside a distribution network intended to ensure safe and reliable delivery to customers.

Gen2 Energy also states that it aims to use low or zero-emission fuel in its distribution system, taking what it describes as a holistic view of the environmental footprint of the hydrogen value chain.

Next Steps Involve Continued Dialogue With Grid Operators

Gen2 Energy indicated it intends to maintain close dialogue with Statnett and Tensio as it works toward realisation of the Monstad project. The company said it looks forward to continuing the development of the project together with all involved parties.

No specific timeline for a final investment decision or construction start was provided in the announcement beyond the indication that the capacity reservation moves the project closer to those stages.

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