Statkraft Halts New Green Hydrogen Projects but Continues with Existing UK Plans
Key Ideas
- Statkraft announced it will no longer develop new green hydrogen projects but will continue with existing projects in the UK, seeking investors to move them forward.
- Two planned hydrogen projects in Shetland, including one at Scatsta and another location, will continue to progress despite the decision.
- The company received government funding for a green energy development at Scatsta, aiming to produce green ammonia for sustainable fuel and industrial decarbonization.
- The UK managing director highlighted significant support from the UK and Scottish governments for Statkraft's existing hydrogen projects, emphasizing the need for investor support for further development.
Statkraft, the Norwegian energy giant, has announced the cessation of new green hydrogen projects development globally but will push forward with existing plans in the UK, including two projects in Shetland. The company has secured government funding for a green energy initiative at Scatsta, with another project in the pipeline. These projects aim to produce green ammonia to support sustainable marine shipping and industrial decarbonization. Although new projects are halted, Statkraft's UK managing director highlighted the significant support received from the UK and Scottish governments for their current hydrogen endeavors. The company is now actively seeking investors to facilitate the construction and operation phases of these projects, which are well-advanced compared to endeavors in other countries. This decision emphasizes a commitment to sustainable energy solutions and marks a step towards achieving the UK's industrial decarbonization goals.