Welcome to the cluster, Fortescue

Mar 21

“The cluster is a highly relevant partner in driving the transition to a clean energy future”

Fortescue is focused on becoming the number one integrated green energy, metals and technology company, recognised for its culture, innovation and industry-leading development of infrastructure, mining assets and green energy initiatives.

Fortescue is leading the green industrial revolution, building a global portfolio of renewable green hydrogen and green ammonia projects and green technology solutions, while also leading the global effort to help decarbonize hard-to-abate sectors. In Norway, Fortescue has two green ammonia production plants in development and is actively working on creating the first green ammonia value chain to kick-start the European market.

What is Fortescue’s primary focus at the moment?

For Fortescue Norway the primary focus is to develop two large-scale, integrated production plants for green hydrogen and green ammonia. The end product from these facilities will be green ammonia, which is seen as an important energy carrier to decarbonize hard-to-abate sectors such as the maritime industry, transport, aviation and other industries, including fertilizer.
Norway has produced ammonia for a century, however Fortescue is focused on scaling up production and transitioning to green ammonia, which is produced renewable electricity instead of fossil fuels. Fortescue aims to create one of the first green ammonia value chains in Europe and kick-start the green ammonia market globally.
The location of the Holmaneset Project in Bremanger municipality, one of Norway’s must exciting hubs for the maritime industry, makes it well-positioned to accelerate the transition for a cleaner, greener Norwegian maritime industry. The project has the potential to produce enough green ammonia each year to supply fuel to 1/3 of Norway’s offshore fleet.
The project has been recognized by the European Union as a tremendous opportunity to contribute to Europe’s mission to transition to a clean energy economy. The Holmaneset Project has been provided with Innovation Funding from the European Climate, Infrastructure and Environment Executive Agency (CINEA).

Could you share more about your project at Holmaneset?

The proposed Holmaneset Project will lead the way in green hydrogen and green ammonia production for Europe with a large-scale production plant in western Norway. Building on Norway’s advantageous hydropower, skilled workforce and proximity to the European market, the Holmaneset Project aims to kick-start the green energy value chain for Europe. Working together with domestic and European partners, the Project will contribute to the decarbonisation of hard to abate industries, such as shipping, given the Project’s location and Norway’s strong maritime heritage.
The production facility at Holmaneset will create jobs locally with ripple effects occurring regionally and nationally. The Project’s objectives align with both Norwegian and European ambitions of accelerating the green energy market.
Fortescue has entered into a conditional long-term Power Purchase Agreement (PPA) with Statkraft. Power allocation has been confirmed by Statnett in agreement with regional grid provider Linja. Preliminary environmental and geotechnical site surveys have taken place since 2022 to capture seasonal variation for the impact assessment and to inform early engineering and design works.
Fortescue is targeting the commencement of the Construction Phase in 2025, with the start of Operations in 2027. These targeted timeframes may change depending on the time it takes to go through the regulatory approvals process as well as technical and commercial preparations and a final positive investment decision from the Fortescue Board.

What is your primary focus when it comes to sustainability?

Sustainability is critical to the future success of our company and we integrate it into all aspects of our business. As Fortescue transitions to becoming the number 1 integrated green technology, energy and metals company, our commitment to sustainability expands with us.
Our sustainability commitments are developed in collaboration with our stakeholders and aim to create value for our investors, ensure the health and safety of our employees, protect the environment and empower the communities in which we operate.
Sustainability is integrated into our decision-making, strategic and risk management processes. Compliance with all relevant legislation and obligations, including those that govern health, safety and environment, is the absolute minimum standard to which we operate. Our unique culture and Values form the base of our sustainability framework, which incorporates specific polices, objectives and targets.

Why did you decide on becoming a member of the cluster?

“The cluster is a highly relevant partner in driving the transition to a clean energy future. As a newcomer to the region we want to be part of the collaboration cluster membership offers.”

There are several avenues for working with the industry in the region, and co-creating the value chain for green energy is just the start.
Another opportunity will be synergies for increased green business development and value creation through utilizing bi-products from green hydrogen and green ammonia production, namely large quantities oxygen and heat.