Fortescue advances significant Norway green energy project to next stage

Fortescue Future Industries (FFI), a global green energy leader, has advanced its Holmaneset Project (the “Project”) to a significant next phase, providing potential for the development of a 300 megawatt green hydrogen and green ammonia facility and supporting infrastructure.

In partnership with local Norwegian consultants, and in consultation with the Bremanger Municipality, FFI recently completed a Scoping Study to identify potential locations for the development of green energy and port facilities, in which the Holmaneset Project site was identified (approximately 8km west of Svelgen along road 614).

Currently in the early feasibility phase of the Project, FFI is conducting several environmental and social studies to assess its viability and developing a project concept in line with Norwegian regulations, FFI’s environmental and social policies and values, and international good practice.

The Project has commenced the Zoning Plan process, which is a key component of the Feasibility Phase. This process, which will be undertaken in cooperation with the Municipality, will include a series of investigations, including an Environmental Impact Assessment, and provide several opportunities for stakeholders to interact and formally comment on the Zoning Plan documentation.

Consideration has been given to a range of factors to help position the Project for success, such as existing grid and power capacity, proximity to existing infrastructure, land availability, water sources, topography, and the local environment and surrounding communities.

Fortescue Future Industries CEO Mark Hutchinson said Norway has significant potential to lead the way for green hydrogen and green ammonia production based on availability of renewable energy, proximity to the European market, and skilled workforce.

“The development of green hydrogen and green ammonia provides opportunities for Norway to achieve its ambitious goals to reduce European greenhouse emissions and become a leader in the transition to a low carbon society” Mr Hutchinson said.

Bremanger Municipality Mayor Anne Kristin Førde welcomed the progression of the Project and acknowledged that while still in its early phases, the Municipality intends to keep stakeholders, including local communities and businesses, updated on progress throughout the Project phases as more information becomes available.

“Local Norwegian consultants will support this process, and together FFI will engage stakeholders throughout to help provide transparency, and to understand and consider community interests in project designs and decision-making processes”, Ms Førde said.

FFI recognises the urgency to produce green energy and support global decarbonisation as quickly as possible with targeted timeframes to accommodate regulatory approvals process as well as technical and commercial preparations.