FDE completes acquisition of majority stake in Greenstat ASA

Greenstat is the co-owner of one of the first producing green hydrogen plants in Norway at the Stord Hydrogen Pilot site that has been operating for over a year now.

The company has also committed to Enova, the Norwegian Ministry of Climate and Environment entity focused on promoting a shift towards more environmental-friendly energy and climate technology, to move forward on the development of two hydrogen projects.

The first project, Hydrogen Hub Agder, is 100% owned by Greenstat and involves the construction of a 20 MW hydrogen facility dedicated to supplying green hydrogen to the maritime industry with production expected to start early 2026. ENOVA will support the project costs through a project grant of up to NOK 148 000 000, which represents more than 40% of the total planned investment.

The second project, Glomfjord, is 33% owned by Greenstat and 67% by Neptun Tromsø and relates to the construction of a 20 MW hydrogen production site of green ammonia dedicated to large fertilizer producer operating in the vicinity, with production expected to start during 2027. Similarly, more than 40% of the planned project costs, for up to NOK 150 000 000, will be financed by a grant from ENOVA.

These two projects moving to the development phase, combined with the existing site already in production, make Greenstat’s hydrogen portfolio one of the largest in Scandinavia.

The acquisition builds on FDE's ongoing expansion into Norway since 2022 and further strengthens its portfolio of low-carbon solutions, supporting the group’s long-term growth strategy and focusing on driving shareholder value.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/01032024/fde-completes-acquisition-of-majority-stake-in-greenstat-asa/