European low-carbon energy solutions provider, FDE has inked an agreement to acquire a controlling stake in Greenstat ASA, a prominent green energy operator based in Norway.
This strategic acquisition aligns with FDE’s commitment to advancing carbon-negative energy production and furthering its influence in hydrogen and solar activities.
FDE’s acquisition of Greenstat is a strategic endeavor to fortify its presence in Europe as a key player in low-carbon, multi-energy production. The incorporation of Greenstat’s diversified portfolio, notably in hydrogen and solar, complements FDE’s existing assets and aligns with the company’s culture of prioritizing projects with cutting-edge technology and strong local ties.
Greenstat’s seasoned team of renewable energy professionals has positioned the company as a formidable force in the development, ownership, and operation of renewable energy infrastructure. FDE aims to leverage Greenstat’s project development platform to expedite the transition towards green energy, focusing on projects that boast the best available technology and local integration.
Greenstat has established itself as a leader in hydrogen production, exemplified by the operational Stord Hydrogen pilot plant in Norway. The company’s involvement in three maritime hydrogen projects, supported by Enova’s funding, reinforces its commitment to advancing environmentally friendly energy solutions. With a cumulative electrolyzer capacity of 20 MW each, these projects are set to commence construction in 2024.
In addition to its hydrogen endeavors, Greenstat holds a 49% stake in a 45 MW solar photovoltaic plant currently in operation, with plans to develop over 50 MW in solar projects throughout 2024. This dual focus on hydrogen and solar positions Greenstat as a versatile contributor to the renewable energy landscape.
The acquisition of Greenstat enhances FDE’s ability to contribute significantly to Europe’s goal of achieving carbon neutrality by 2050. The synergies between FDE’s existing assets and Greenstat’s projects create a potent combination that addresses the urgent need for sustainable and low-carbon energy solutions.
The collaboration between FDE and Greenstat is expected to expedite the deployment of new low-carbon energy production sites across Europe. By combining Greenstat’s sourcing and development capabilities with FDE’s project management expertise, the partnership aims for efficient and timely implementation, providing mid-term positive cash flow visibility.
