Fortescue Future Industries (FFI) has secured renewable power for its proposed 300MW Holmaneset green hydrogen project in Norway, by signing a power purchase agreement (PPA) with Statkraft.
The agreement, conditional on the site reaching FID, will see Statkraft supply renewable power to support FFI’s operational plans for a 300MW green hydrogen and green ammonia (PtX) facility.
FFI CEO Mark Hutchinson said, “There is an urgency to produce green hydrogen and ammonia and support global decarbonisation as quickly as possible.
“FFI has chosen to partner with Statkraft to develop one of its first green ammonia projects, because they are Europe’s largest renewable power generator and will play a key role to enable ambitious goals to reduce European greenhouse emissions and assist FFI to become a leader in green hydrogen and ammonia production.”
Statkraft EVP Markets Hallvard Granheim added: “Providing renewable and competitive power to Norwegian industries is a key task for Statkraft.
“With this PPA we also contribute to green industry development in Norway. Green hydrogen and ammonia are two of the solutions needed to decarbonise society – and reach the net zero target.”
FFI undertook a Scoping Study across Norway to identify potential locations for the development of renewable energy and port facilities.
Through that process, the Holmaneset project site was identified as a prime location (approximately 8km west of Svelgen in Bremanger municipality).
In the feasibility phase of the Holmaneset Project, FFI is conducting several environmental, viability and social studies and is developing a project concept in line with Norwegian regulations, FFI’s environmental and social policies and international good practice.