Vis børsmeldingen
agreement with Prime Capital and Troms Kraft for development of a green maritime
fuel project in the Tromsø area in Norway. The project involves large-scale
production of green hydrogen and further processing into green ammonia (NH3)
and/or liquid organic hydrogen carriers (LOHC).
Tromsø is the main logistics hub in Northern Norway for land-based
transportation, fishery and other maritime industry. With more than 3,000
fishing boat calls per year Tromsø is one of the largest fishing ports in
Norway, and it is also an increasing popular cruise destination. The region has
a surplus of green electricity from hydropower and onshore wind, which makes it
attractive for green fuel production.
In line with Magnora’s strategy of engaging early, the project is currently in
the feasibility-stage aiming for final investment decision late 2022 to
mid-2023. If proceeding as planned, the green fuel project will be in commercial
operations by 2025.
“Magnora is very optimistic when it comes to the ongoing energy transition. We
believe that fuels produced from green electricity will play a significant role
in reducing carbon emissions, especially in the maritime industry. With an
existing electricity surplus from renewables, a large and innovative maritime
and fisheries industry, and a competent industrial workforce, Tromsø has all the
right ingredients for success. Magnora is pleased to enter into a strong
partnership together with Troms Kraft and Prime Capital. Troms Kraft brings
in-depth local knowledge about the power industry and region, as well as over
100 years of operational experience. Prime Capital has an impressive track
record of business development in the Nordics within renewable energy, and an
existing footprint in Northern Norway,” says Torstein Sanness, executive
chairman of Magnora.
The partnership with Prime Capital brings the funding and operational capability
to execute and operate large industrial projects. The company is an investment
and asset management company, with a portfolio of green infrastructure
investments, with a dedicated team of 110 professionals from diverse
backgrounds, including engineering, project management and finance.
“The report from IPCC (UN) is clear, immediate action is needed from all
industries in order to limit the impact of global warning. Prime Capital is
heavily involved in the Troms region through the large-scale wind farms
Raudfjell and Kvitfjell (Nordlys Vind) and wants to continue to contribute to
the further green development of the local industry. On the short term we
believe there is a significant potential for production of green fuels for local
consumption, especially in the shipping and fishery industry, and in the
longer-term Prime Capital clearly see the potential for national and
international export from the region,” says Mathias Bimberg, Head of
Infrastructure at Prime Capital.
Troms Kraft is a publicly owned power company in Tromsø that produces,
distributes and sells electricity from renewable energy sources. The company has
about 320 employees and focuses on securing a clean power supply to help stop
the climate change.
“We in Troms Kraft believe we can play a significant role in the development of
new industry in our region. This is from our perspective best done through
strong partnerships. Together with Magnora and Prime Capital, we do believe our
consortium has a good mix of local, national and international footprint. We see
a promising future for our region, with the combination of access to green
electricity, blooming industries such as fishery and tourism and an
entrepreneurial spirit,” says Erling Dalberg, Director of Market and Technology
of Troms Kraft.
CONTACTS
- Erik Sneve, CEO, email: es at magnoraasa.com
- Torstein Sanness, Executive chairman, email: sanness at sf-nett.no
ABOUT MAGNORA ASA
Magnora ASA (OSE: MGN) has a legacy royalty business that is re-invested in
renewable energy development projects and companies. Magnora’s portfolio of
renewable companies consists of Evolar AB, Helios Nordic Energy AB, Kustvind AB,
Magnora Offshore Wind AS, Vindr Group AS, and a South African SPV. The company
is listed on the main list on Oslo Stock Exchange under the ticker MGN.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/845/1102/Download%20announcement%
20as%20PDF.pdf
Kilde
