(Oslo / Norway) – The Australian company Fortescue Future Industries (FFI) has signed a long-term purchase agreement (PPA) for green electricity with the Norwegian state energy supplier Statkraft SA. This is intended to produce green hydrogen and green ammonia in the planned 300 megawatt FFI project “Holmaneset”. Details on the amount of electricity were not given, nor was the financial volume of the agreement.
Contract signing in Oslo: Thor Magnus Rovik (left, FFI Norway Country Manager) and Hallvard Granheim (Executive Vice President, Markets Division at Statkraft). © FFI
FFI had previously analyzed potential locations throughout Norway for the development of renewable energies and port facilities. In this process, called “scoping,” the current location was selected about eight kilometers west of Svelgen in the municipality of Bremanger. Environmental, feasibility and social studies are now being carried out and a project concept is being developed. The now closed PPA is “contingent on a positive final investment decision for the Holmaneset project,” says FFI.
Location of the proposed Holmaneset project in the municipality of Bremanger, Norway. © FFI
Fortescue Future Industries Pty Ltd (FFI) is part of the empire of the Australian mining magnate Andrew Forest, who has been pushing ahead with a whole series of large-scale projects to decarbonize heavy industry around the world for some time. This includes gigawatt-scale solar and wind farms as well as the production of green hydrogen and its derivatives. The parent company, Fortescue Metals Group, is one of the world's largest iron ore producers. The group develops and acquires technologies to decarbonize this industry segment.
Photos
Statkraft's main source of green electricity is hydropower. The photo shows the Blåsjø reservoir for the Ulla-Førreverkene hydroelectric power station. © Statkraft
