Statkraft and Fortescue renegotiate power agreement for Holmaneset green hydrogen and green ammonia project in Norway

Currently in the feasibility phase of the green hydrogen and green ammonia project, Fortescue is continuing to progress studies and approvals.

The amendments extend the existing agreement timeframe to 2029, while also extending the agreements to cover a 10-year power supply.

“For Statkraft, it is a priority to offer stable and competitive power agreements that contribute to new, green industrial development and green transition. We are therefore pleased to have renegotiated the agreement with Fortescue and thus meet their updated needs at Holmaneset,” says Hallvard Granheim, Executive Vice President for Markets at Statkraft.

“Fortescue continues to progress approvals and studies towards the development of its Holmaneset Project. The renegotiated power agreement allows time for this process to continue,” says Fortescue Project Director Gabriela Celin.

The PPA is conditional upon financial close and commencement of commercial operations.