Statkraft AS

Statkraft and Fortescue renegotiate power agreement for Holmaneset green hydrogen and green ammonia project in Norway

(Oslo, Norway 15 December 2025) Statkraft and Fortescue have agreed to amend and extend the conditional power agreement currently in place for the Holmaneset project. 

Currently in the feasibility phase of the green hydrogen and green ammonia project, Fortescue is continuing to progress studies and approvals. 

The amendments extend the existing agreement timeframe to 2029, while also extending the agreements to cover a 10-year power supply. 

“For Statkraft, it is a priority to offer stable and competitive power agreements that contribute to new, green industrial development and green transition. We are therefore pleased to have renegotiated the agreement with Fortescue and thus meet their updated needs at Holmaneset,” says Hallvard Granheim, Executive Vice President for Markets at Statkraft. 

“Fortescue continues to progress approvals and studies towards the development of its Holmaneset Project. The renegotiated power agreement allows time for this process to continue,” says Fortescue Project Director Gabriela Celin.

The PPA is conditional upon financial close and commencement of commercial operations.

For further information, please contact:
Lars Magnus Günther, press spokesperson Statkraft AS
+47 91 24 16 36 | lars.gunther@statkraft.com

Media contact Fortescue
+61 1800 134 442 | media@fortescue.com

About Statkraft
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries.