Fortescue Future Industries (FFI) has secured renewable power for its proposed Holmaneset green energy project, entering into a long-term Power Purchase Agreement (PPA) with Statkraft.

The conditional agreement signed in Oslo will see Statkraft supply renewable power to support FFI’s operational plans for a 300 megawatt green hydrogen and green ammonia facility.

FFI undertook a Scoping Study across Norway to identify potential locations for the development of renewable energy and port facilities. Through that process, the Holmaneset Project site was identified as a prime location (approximately 8km west of Svelgen in Bremanger municipality).

Currently in the feasibility phase of the Holmaneset Project, FFI is conducting several environmental, viability and social studies and is developing a project concept in line with Norwegian regulations, FFI’s environmental and social policies and values, and international good practice. The PPA is conditional upon a positive Final Investment Decision for the Holmaneset Project.

Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating.