As part of the agreement, Norwegian Hydrogen will take over an existing long-term power purchase agreement (PPA) with Tinn Energi, ensuring the project has access to renewable energy.
Aker Horizons has the option to re-enter as an investor and active partner in the project at a later stage.
Jens Berge, CEO of Norwegian Hydrogen, commented: “We are very pleased to be able to take over this exciting project. This acquisition provides us with an excellent opportunity to enhance our commitment and deliver innovative zero-emission solutions to both existing and new customers. At the same time, we look forward to realizing the project and contributing to the green transition in close cooperation with local stakeholders.”
In addition to the acquisition, Norwegian Hydrogen has entered into a letter of intent (LoI) with Nel for the delivery of a pressurized alkaline electrolysis plant for the project. Nel previously received support from the EU Innovation Fund to develop this type of technology.
The Rjukan facility is expected to produce approximately nine tonnes per day of green hydrogen from a 20 MW electrolyzer capacity. Reportedly, it will be delivered to the industry, shipping and mobility offtakers.
To note, Norwegian Hydrogen has operational facilities in Norway and Denmark serving a diverse range of industrial customers, and the Rjukan acquisition is considered a part of the company’s long-term goal of creating a sustainable and competitive value chain for green hydrogen in the Nordics.
