Name of the Project
Holmaneset project.
Location
West of Svelgen, in Norway.
Project Owner/s
Global green energy company Fortescue Future Industries (FFI).
Project Description
FFI is progressing studies of the site for the potential development of a 300 MW green hydrogen and green ammonia facility, as well as supporting infrastructure.
The planned green ammonia plant aims to capitalise on the surplus renewable energy from the Norwegian transmission grid, and ship the resulting green ammonia to domestic and European markets.
Potential Job Creation
Not stated.
Capital Expenditure
Not stated.
Planned Start/End Date
FFI is targeting construction to start by 2025, with operations starting in 2027.
Latest Developments
The European Union (EU) has chosen to significantly invest in the project, awarding a grant of €203.77-million as part of its Innovation Fund.
The Innovation Fund is one of the world's biggest funding programmes for the demonstration and commercialisation of innovative low-carbon technologies, financed by revenues from the auctioning of allowances from the EU's Emissions Trading System.
Fortescue recently approved an early investment decision in the project to see it progress towards front-end engineering design before being considered for a final investment decision.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
FFI (Norway), email Norway@Fortescue.com.