KGAL ESPF 6 and PtX Development acquire majority stake in Lhyfe hydrogen project in Lubmin
The energy transition fund KGAL ESPF 6 and PtX Development GmbH are expanding their joint platform for green hydrogen in Lubmin, Mecklenburg-Western Pomerania.
Grünwald near Munich, 15.04.2026 – The energy transition fund KGAL ESPF 6 and PtX Development GmbH are expanding their joint platform for green hydrogen in Lubmin, Mecklenburg-Western Pomerania. They are expanding production capacity to up to 1,700 megawatts by acquiring a majority stake in the Lhyfe green hydrogen project. This will create what is potentially Germany’s largest hydrogen project with a possible annual production of up to 160,000 tonnes.
The Lubmin site offers secured land areas, a confirmed grid connection and a strategically excellent location in the immediate vicinity of GASCADE’s “Flow” pipeline. Flow is an existing pipeline converted for the transport of hydrogen, which already connects Lubmin with Saxony-Anhalt and forms a core element of the German hydrogen core network.
The platform benefits from Lubmin’s unique location, which enables direct connections between large-scale renewable power generation, transport infrastructure and the regions with the highest industrial demand in Germany. Once completed, the hydrogen core network will connect Lubmin to major industrial clusters, creating a solid foundation for long-term offtake agreements.
“Lubmin is one of the most ambitious green hydrogen projects in Germany,” says Thomas Engelmann, Head of Energy Transition at KGAL. “The site combines the crucial elements for large-scale hydrogen production – renewable energies, grid infrastructure and direct access to the hydrogen core network. This makes Lubmin a lighthouse project for the German hydrogen economy.”
Embarking on the next phase of development
Following the acquisition, KGAL ESPF 6 and PtX Development will work with Lhyfe to take the project to the next phase of development. The focus is on further technical and commercial development, exchange with potential hydrogen customers and the preparation of the actual project implementation. Lhyfe will retain a minority stake in the project and will continue to contribute its experience and expertise in the development and scaling of green hydrogen.
The partnership combines KGAL’s long-standing experience as an infrastructure and energy investor with PtX Development’s deep expertise in the development of hydrogen and power-to-X projects, supported by Lhyfe’s contribution to the development of the project. Together, the partners want to develop the asset in Lubmin into a showcase project for the green hydrogen transition in Germany.
KGAL was advised on the transaction by JLL (Commercial), Houthoff (Legal/Tax) and Drees & Sommer Netherlands (Technology).
Background: The Lubmin hydrogen project
The Lubmin hydrogen project is located on the site of a former nuclear power plant on the German Baltic coast. The site has secured land, access to large quantities of offshore wind energy, a connection to the extra-high voltage grid and direct connections to the German hydrogen core grid. In its final expansion stage, the project is expected to achieve an electrolysis capacity in the gigawatt range and supply industrial customers throughout Germany with green hydrogen.
