Qair secures €55mn for Hyd’Occ and strengthens its position in hydrogen in France
Qair obtains structured bank financing of €55mn for its Hyd’Occ ecosystem, integrating renewable hydrogen production and distribution in Occitanie, with commissioning scheduled before the end of 2025.
| Sectors | Hydrogen Energy, Wind Energy, Green Hydrogen, Floating |
|---|---|
| Themes | Investments & Transactions, Financing, Project Development |
| Companies | Plug Power, Bpifrance, Qair, Crédit Agricole |
| Countries | France |
Independent renewable energy producer Qair has finalised bank financing of €55mn ($58mn) for the development of its hydrogen ecosystem in the Occitanie region, centred around the Hyd’Occ production unit in Port-La Nouvelle and five regional distribution stations. This structured financing is provided in partnership with Crédit Agricole and Bpifrance.
A structuring project for heavy-duty mobility
The infrastructure is based on an initial capacity of 20 megawatts (MW), capable of producing up to 2,700 tonnes of renewable hydrogen per year. This output will be distributed to stations located along the region’s main transport corridors. A second project phase will double the installed capacity to 40 MW, reaching 5,400 tonnes annually.
The Narbonne and Béziers stations will be the first to enter into service. Both facilities, selected under the “Corridor H2 Occitanie” project calls, aim to support the decarbonisation of heavy-duty mobility. They are part of a broader European initiative linking the Iberian Peninsula to northern Europe through a hydrogen corridor.
Total investment of €130mn
The entire project represents a €130mn ($137mn) investment, also supported by the French Agency for Ecological Transition (ADEME), the Occitanie Region, the European Investment Bank and the European Union through the Connecting Europe Facility (CEF). Qair was advised by Watson Farley & Williams for legal matters, while the lenders were assisted by Willkie Farr & Gallagher.
Technical, insurance and financial aspects were respectively overseen by DNV, Marsh and KPMG. The Béziers and Narbonne stations are expected to be operational by December 2025, alongside the delivery of the first hydrogen molecules from the Hyd’Occ production unit.
Commercial agreements already in place
Qair has already signed several long-term offtake agreements with Plug Power and Hydromer, covering over 1,500 tonnes of hydrogen annually. These contracts provide a structured commercial outlet to secure the industrial profitability of the unit.
In parallel, the company continues to develop complementary projects, notably the floating wind farm Eolmed off the coast of Gruissan, one of the first of its kind in France. Assembly is currently underway, with the project serving as an industrial demonstrator for the floating wind sector.
