Provaris Energy Ltd (ASX:PV1) has signed a collaboration agreement with Norwegian Hydrogen AS to jointly advance and develop the 270 MW FjordH2 hydrogen project at Ørskog in the Ålesund municipality, Norway.
At present, the 270-megawatt FjordH2 project is set to become one of the largest production facilities for green hydrogen in the entire Nordic region, with an expected annual production capacity of 40,000 tonnes of green hydrogen by 2030.
The project is well positioned to respond to the European Union’s REPowerEU Plan, which is targeting diversified sources of clean energy in the wake of Russia’s invasion of Ukraine and subsequent energy supply disruptions.
Early mover advantage
“Provaris is delighted to formalise a collaboration with Norwegian Hydrogen for the joint development of the FjordH2 project,” Provaris Energy managing director and CEO Martin Carolan said.
“Provaris’ unique approach to developing integrated hydrogen projects for export using compression delivers a flexible, efficient and early mover advantage for Norway to support the REPowerEU demand for imported volumes of green hydrogen.
“The collaboration with Norwegian Hydrogen will be key to the project given their expertise and leadership in hydrogen production and distribution projects underway in Norway and Denmark.”
Under the agreement, Provaris and Norwegian Hydrogen will define and agree to the key terms of a definitive Joint Development Agreement (JDA), focusing on advancing pre-front-end engineering and design (FEED) activities, permitting, power purchase agreements and offtake agreements.
Contributing to a zero-emission future
“Partnering with Provaris Energy on the FjordH2 project is an important step forward for us,” Norwegian Hydrogen CEO Jens Berge said.
“By combining Provaris' expertise with our own experience, we are well-positioned to make a substantial impact in meeting the growing demand for large volumes of green hydrogen.
“Together, we are dedicated to realising the FjordH2 project's immense potential, as it has the capacity to become one of the largest production facilities in the Nordic region.
“This facility will play a vital role in supporting REPowerEU's import demand and contributing to a zero-emission future.”
The European Commission also recently published the final version of a Delegated Act setting out the rules and definitions around renewable energy and green hydrogen production, which PV1 expects to fall within and will monitor closely as the project advances.