Statkraft and Fortescue Update Power Deal for Norway Hydrogen Project
Key highlights
- The project is in the feasibility phase for green hydrogen and ammonia.
- The agreement timeframe is extended to 2029 with a 10-year power supply.
- The PPA depends on financial close and commercial operations start.
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Statkraft Fortescue Holmaneset Feasibility green Hydrogen and Ammonia · Norway
Under Construction
2025 Q1
2025
—
2029-01
Project Overview
Fortescue is advancing the feasibility phase of its green hydrogen and green ammonia project at Holmaneset, Norway. The project aims to contribute to green industrial development and transition.
Agreement Extension
The power agreement with Statkraft has been renegotiated, extending the timeframe to 2029 and covering a 10-year power supply. This extension supports ongoing studies and approvals for the project.
Conditional Power Purchase Agreement
The Power Purchase Agreement (PPA) is contingent upon achieving financial close and the commencement of commercial operations. This condition ensures that the project progresses in alignment with financial and operational milestones.
Source: Statkraft
