Statkraft to power FFI's Holmaneset 300 MW Green Hydrogen, Ammonia project

Fortescue Future Industries and Statkraft have signed a conditional agreement recently, which will see the latter supplying renewable power to support FFI's operational plans for a 300 MW green hydrogen and green ammonia facility. 

Currently in the feasibility phase of the Holmaneset project in Norway, FFI claims to be 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.

FFI CEO Mark Hutchinson said, "There 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", he added. 

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Statkraft EVP Markets Hallvard Granheim, commented on the development, "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."

It is to be noted that Statkraft recently announced its collaboration with Nel to create a robust green hydrogen production value chain in Norway. The company claims to step up its annual renewable power development to 4 GW, along with 2 GW of green hydrogen production by 2030.