Fortescue Future Industries and Statkraft secure power for proposed green hydrogen project
Published by Abi Larkin,
Editorial Assistant
Energy Global,
Fortescue Future Industries (FFI) has secured renewable power for its proposed Holmaneset green energy project, entering into a long-term power purchase agreement (PPA) with Statkraft.
The conditional agreement signed in Oslo, Norway, will see Statkraft supply renewable power to support FFI’s operational plans for a 300 MW green hydrogen and green ammonia facility.
FFI CEO Mark Hutchinson said: “These is an urgency to produce green hydrogen and green 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 green ammonia production.”
Statkraft EVP Markets Hallvard Granheim said: “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 green 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 8 km west of Svelgen in Bremanger municipality, Norway).
Currently 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 values, and international good practice. The PPA is conditional upon a positive final investment decision for the Holmaneset project.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2023 issue
The Spring 2023 issue of Energy Global hosts an array of technical articles focusing on offshore wind, solar technology, energy storage, green hydrogen, waste-to-energy, and more. This issue also features a regional report on commodity challenges facing Asia’s energy transition.
Read the article online at: https://www.energyglobal.com/other-renewables/03042023/fortescue-future-industries-and-statkraft-secure-power-for-proposed-green-hydrogen-project/
You might also like
Copenhagen Infrastructure Partners, KK Invest, and Danish Bio Commodities to operate and develop biogas plants
KK Invest, DBC Invest, and Copenhagen Infrastructure Partners have entered into an agreement regarding the acquisition of the majority of the shares in Sindal Biogas.