Danish firm GreenGo Energy has partnered with Ringkøbing-Skjern Municipality for the development of a 4GW green energy park.
Named Megaton, the project will be built at the future Stovstrup 400kV substation east of Tarm in Ringkøbing-Skjern municipality.
Its development will require a total investment of €8bn ($8.7bn).
The Megaton energy park will cover 4,000ha of land and consist of onshore solar and wind projects, in addition to a 2GW offshore wind project that GreenGo plans to develop.
Clean energy generated by the renewable assets will be supplied to the energy park, which will have a 2GW electrolysis infrastructure.
Megaton is expected to come online before 2030 and will have the capacity to produce one million tonnes of green fuel a year.
Once operational, it will be one of the largest fully integrated energy parks in the world.
The project is part of the Danish government’s plan to reduce Denmark’s carbon emissions by 70% by the end of 2030.
GreenGo Energy noted that the renewable energy assets will have the capacity to generate 11.5TWh of green power a year, which is equivalent to more than 30% of the country’s current total power consumption.
The company estimates, however, that 85% of the green electricity will be absorbed by Megaton Energy Park to produce green fuels.
In addition, the project will produce more than 1TWh of surplus heat for the district’s heating system.
GreenGo Energy CEO Karsten Nielsen said: “With the Megaton project and the development of one of the world’s largest energy parks in Western Jutland, we will once again put Denmark on the world map as a leader in the transition to 100% green power and the green fuels that are necessary to achieve the global climate goals towards 2050.
“We are pleased that the city council in Ringkøbing-Skjern municipality is just as ambitious on the green transition as GreenGo Energy.”