Fortescue Future Industries (FFI) has signed a long-term Power Purchase Agreement (PPA) with Statkraft to supply renewable power for its proposed Holmaneset green energy project.
The deal will support FFI’s operational plans for a 300MW green hydrogen and green ammonia facility, with Statkraft supplying renewable power.
FFI is committed to producing green hydrogen from 100% renewable sources, and this partnership with Statkraft, Europe’s largest renewable power generator, will enable the company to become a leader in green hydrogen and green ammonia production.
The Holmaneset Project site was identified as a prime location for the development of renewable energy and port facilities. FFI is currently conducting several environmental, viability, and social studies and is developing a project concept in line with Norwegian regulations, environmental and social policies, and international good practice. The PPA is conditional upon a positive Final Investment Decision for the Holmaneset Project.
Statkraft EVP Markets Hallvard Granheim said that green hydrogen and green ammonia are two of the solutions needed to decarbonize society and reach the net-zero target, and providing renewable and competitive power to Norwegian industries is a key task for Statkraft.
Source: PRESS RELEASE
Image of Holmaneset Site: FFI