Statkraft and Fortescue have amended and extended their conditional power agreement for the Holmaneset green hydrogen and green ammonia project.
The companies said the project remains in its feasibility phase as Fortescue continues to progress studies and approvals.
The amendments extend the agreement timeframe to 2029 and widen it to cover a 10-year power supply.
“For Statkraft, it is a priority to offer stable and competitive power agreements that contribute to new, green industrial development and green transition,” said Hallvard Granheim (pictured), executive vice president for markets at Statkraft.
“We are therefore pleased to have renegotiated the agreement with Fortescue and thus meet their updated needs at Holmaneset,” Granheim added.
“Fortescue continues to progress approvals and studies towards the development of its Holmaneset Project,” stated Fortescue project director Gabriela Celin.
“The renegotiated power agreement allows time for this process to continue,” Celin said.
The PPA is conditional upon financial close and commencement of commercial operations.