Aker Horizons inks PPA for green ammonia plant in Norway
SUMMARY
This PPA secures a significant portion of the renewable power required for Aker Horizons' green ammonia plant, which is currently under development in Narvik.
By Shardul SharmaAker Horizons has entered into a 10-year power purchase agreement (PPA) with Statkraft, European renewable energy generator, it said on July 5. This PPA secures a significant portion of the renewable power required for Aker Horizons' green ammonia plant, which is currently under development in Narvik, northern Norway.
The PPA with Statkraft will cover the first 10 years of operations for the Narvik plant, starting from its anticipated commencement in 2028. The plant aims to have a capacity of up to 600 MW and will be one of Europe's first large-scale green ammonia production facilities, with a projected daily production of between 1,000 and 1,500 metric tons.
Aker Horizons aims to develop green value chains by integrating renewable energy with midstream products like hydrogen and downstream end-use products like green ammonia in Narvik. The company has already signed offtake letters of intent with major European energy, industrial, and chemical companies for volumes of ammonia that exceed the planned production in Narvik, it said.
The execution of the PPA is dependent on Aker Horizons making a final investment decision for the Narvik green ammonia project.
