Norwegian Hydrogen buys 25-MW project in Rjukan
Norwegian Hydrogen announced today that it has acquired a hydrogen project in Rjukan, eastern Norway, from Aker Horizons ASA (OSE:AKH) and has already selected Nel ASA (OSE:NEL) as the potential supplier for the targeted 25 MW of electrolyser capacity.Under the agreement, Aker Horizons has secured an option to re-enter the project as an investor and active partner at a later stage, a press statement says.Norwegian Hydrogen described the Rjukan project as one of the largest in the Nordics, adding that it already sees potential for further upscaling and expansion.The company has signed a letter of intent (LOI) with Nel for the delivery of a pressurised alkaline electrolysis plant for the project. Earlier this month, Nel said it was temporarily ceasing production at its electrolyser factory in Heroya due to "a limited need to produce new alkaline electrolyser equipment in the near-term".Project Rjukan will produce clean and sustainable hydrogen for industrial customers across the Nordic. Its access to renewable energy has been secured under a long-term power purchase agreement (PPA) in place with Tinn Energi, ensuring the project has access to renewable energy.The project was part of Aker Horizons’ global portfolio, originally planned to be developed in two phases of 20 MW each. It was developed in close collaboration with Tinn municipality and Rjukan Næringsutvikling. Back in 2023, the company secured up to NOK 135 million (USD 11.8m/EUR 11.4m) in state grants and loans for the project’s implementation.(NOK 10 = USD 0.876/EUR 0.846)
Norwegian Hydrogen announced today that it has acquired a hydrogen project in Rjukan, eastern Norway, from Aker Horizons ASA (OSE:AKH) and has already selected Nel ASA (OSE:NEL) as the potential supplier for the targeted 25 MW of electrolyser capacity.
Under the agreement, Aker Horizons has secured an option to re-enter the project as an investor and active partner at a later stage, a press statement says.
Norwegian Hydrogen described the Rjukan project as one of the largest in the Nordics, adding that it already sees potential for further upscaling and expansion.
The company has signed a letter of intent (LOI) with Nel for the delivery of a pressurised alkaline electrolysis plant for the project. Earlier this month, Nel said it was temporarily ceasing production at its electrolyser factory in Heroya due to "a limited need to produce new alkaline electrolyser equipment in the near-term".
Project Rjukan will produce clean and sustainable hydrogen for industrial customers across the Nordic. Its access to renewable energy has been secured under a long-term power purchase agreement (PPA) in place with Tinn Energi, ensuring the project has access to renewable energy.
The project was part of Aker Horizons’ global portfolio, originally planned to be developed in two phases of 20 MW each. It was developed in close collaboration with Tinn municipality and Rjukan Næringsutvikling. Back in 2023, the company secured up to NOK 135 million (USD 11.8m/EUR 11.4m) in state grants and loans for the project’s implementation.
(NOK 10 = USD 0.876/EUR 0.846)
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