Fortescue secures EU funding for green ammonia plant in Norway

Australian mining company Fortescue has secured funding from the European Union (EU) to develop a green ammonia plant in Norway.

PHOTO: Model of Fortescue’s green ammonia plant in Norway. Fortescue

The company plans to build the green ammonia plant - dubbed the Holmaneset Project - west of Svelgen in Norway's Vestland county.

The project intends to utilise surplus renewable energy from Norway’s transmission grid to produce the green ammonia, which will then be shipped to domestic and European markets. Green ammonia is a form of ammonia produced using renewable energy sources.

The green ammonia produced at the facility may help to replace fossil fuels in hard-to-abate industries including long-haul transport, shipping and heavy industry, Fortescue’s Norway county manager Thor Magnus Rovik says.

However, the company has not yet disclosed the production capacity of the plant.

Fortescue intends to commence construction of the plant in 2025 and start operations in 2027.

The project secured funding worth around €203 million (around $223 million) under the EU’s Innovation Fund, which is focused on facilitating development of technologies and projects in Europe that can bring about significant emission reduction.

By Tuhin Roy

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