FFI and Statkraft secure power for Holmaneset green hydrogen and ammonia project

Fortescue Future Industries (FFI) has entered into a long-term Power Purchase Agreement (PPA) with Statkraft to secure renewable energy for its proposed Holmaneset green energy project.

According to the terms of the contract, which was signed in Oslo, Statkraft will provide green energy to help FFI with its intentions to operate a 300 megawatt green hydrogen and green ammonia complex.

FFI conducted a Scoping Study across Norway to find prospective sites for the construction of port infrastructure and renewable energy projects. The Holmaneset Project site was recognized as a prime location as a result of that procedure (approximately 8km west of Svelgen in Bremanger municipality).

As part of the Holmaneset Project’s current feasibility phase, FFI is undertaking a number of environmental, viability, and social studies and creating a project idea in accordance with Norwegian laws, its own environmental and social principles and values, and global best practices. A favorable Final Investment Decision for the Holmaneset Project is a requirement for the PPA.