Aker signs power deal for green ammonia plant in Norway

Green energy developer Aker Horizons has signed a 10-year power purchase agreement with Statkraft, Europe's largest generator of renewable energy, for its large-scale green ammonia plant under development at Narvik in northern Norway.

The companies notes that the deal gave Aker a significant amount of the renewable power needed for the facility, one of Europe's earliest large-scale green ammonia projects, having an expected production of between 1,000 and 1,500 tonnes per day.

Under the deal, Statkraft will cover Narvik for the first 10 years of the plant's operations, starting 2028.

Aker Horizons and Statkraft have also signed collaborations to jointly explore green hydrogen and ammonia opportunities in India and Brazil, with a focus on the local steel and fertilizer industries.

In a statement announcing the power purchase agreement, Aker Horizons Asset Development Director Sverre Isak Bjørn said, "This agreement secures renewable energy for the project at competitive prices, paving the way for new green industrial development, new jobs and the ramp up of the European hydrogen economy."

Statkraft EVP Markets Hallvard Granheim said: "By adding this PPA to our portfolio we again contribute to green industry development and decarbonization based on our renewable energy resources. Green ammonia is one of the solutions needed to help the green energy and industrial transition - and reach the net zero target."