Yara International has signed a Letter of Intent with Statkraft, and Aker Horizons, aiming to establish Europe’s first large-scale green ammonia project in Norway.
The project will enable the hydrogen economy and accelerate the green energy transition.
The partners will target green hydrogen and green ammonia opportunities within shipping, agriculture and industrial applications, by electrifying Yara’s existing ammonia facility in Porsgrunn.
“This is not just a unique decarbonization project, but a strategic investment that can establish new value chains for green hydrogen and green ammonia. With Statkraft and Aker Horizons onboard we gain key expertise within renewable electricity, power markets, industrial development and project execution, giving us a unique opportunity to realize the project,.”Svein Tore Holsether, president and CEO of Yara.
The partners plan to electrify and decarbonize Yara’s ammonia plant in Porsgrunn. The partners aim to fully remove CO2 emissions from ammonia production, thereby producing emission-free fuel for shipping, carbon-free fertilizer and ammonia for industrial applications.
“A partnership with Yara and Statkraft, two fellow Norwegian industrial pioneers, marks the beginning of a new industrial adventure in Norway. The first project in Porsgrunn can be a lighthouse project – providing competitive advantage in a growing global hydrogen economy and building on existing capabilities in the Norwegian supplier industry to create new jobs for the future.”Øyvind Eriksen, president & CEO of Aker ASA and chairman of Aker Horizons.
“This project paves the way for new industrial development and can at the same time give Norway’s important maritime sector a new competitive advantage, namely access to an efficient and emission-free energy source on a large scale.”Statkraft CEO Christian Rynning-Tønnesen.