Norway’s Statkraft and Aker Horizons, a unit of investment firm Aker, have joined chemicals firm Yara in electrifying and decarbonising a plant in Norway to produce zero carbon ammonia, the companies said on Thursday.
Yara, one of the world’s largest producers of nitrogen fertilisers, aims to eliminate CO2 emissions from the 500,000-tonnes-a-year plant in Porsgrunn in southern Norway.
“Provided that power is available at the site and the required public co-funding is in place, the project could be realised within 5-7 years,” Yara said in a statement.
The three companies would own the plant together, Aker CEO Oeysten Eriksen told a news conference. The partners will also jointly explore the potential for green ammonia production at a site in northern Norway.
Norway already has an oversupply of power and access to electricity would not be the bottleneck for the project, Statkraft CEO Christian Rynning-Toennesen said.
[Victoria Klesty and Nora Buli]