29 May 2024
Linklaters has advised TE H2, a joint venture formed by TotalEnergies and EREN Group, on structuring a partnership for the development of green hydrogen projects in Tunisia with VERBUND, Austria’s leading electricity company.
The "H2 Notos" Project aims to produce green hydrogen through the electrolysis of desalinated seawater, using renewable electricity generated by solar and onshore wind farms. The Project targets the production of 200,000 tons of green hydrogen per year during the initial phase, with the potential to reach 1 million tons per year, in southern Tunisia. It will benefit from privileged access to the European market, thanks to the "SoutH2 Corridor", a dedicated pipeline connecting North Africa to Italy, Austria, and Germany, which is expected to be operational by 2030.
TE H2, in partnership with VERBUND, will be responsible for the development, financing, construction, and operation of this integrated project, from the production of green electricity to the production of green hydrogen. VERBUND will coordinate the transport of the produced hydrogen to Central Europe.
In this context, a first memorandum of understanding with the Tunisian State has also been signed on 27 May.
The Linklaters team was led from Paris by Nicolas Le Guillou, partner in the Corporate M&A practice, and Aymeric Voisin, counsel in the Energy and Infrastructure practice. The team included Arani Chakrabarty and Samantha Deversin in Energy and Infrastructure and Baptiste Fondeur in Corporate M&A.