Another fantastic partnership for us, with BNP Paribas on the financing for our SkiGa large-scale green ammonia project in Norway.

Leveraging on the expertise of the #BNPPLowCarbonTransitionGroup and #BNPPRealAssets teams, BNP Paribas is pleased to announce that it is the advisory partner to Fuella on the debt financing of the Skipavika Green Ammonia project (SkiGA), its first greenfield project in Norway, and one of Europe’s most advanced large-scale green ammonia production plants.

This agreement underscores BNP Paribas’ strong commitment towards partnering on the #energytransition by taking on a crucial role in expediting the project’s path to a successful financial close.

Once completed in 2026, SkiGA will be Europe’s first emissions-free ammonia plant, capable of producing 100,000 metric tons of green ammonia per year. The production of green #hydrogen and green ammonia can play a significant role in the #energy transition journeys of hard-to-abate industries, which BNP Paribas is committed to supporting actively towards net zero.

Green ammonia is currently emerging as a key catalyst for developing the #Hydrogen market and #decarbonization efforts in both industry and energy sectors. It has potential to replace conventional fossil-based ammonia production which can be used in the production of fertilisers and in other industrial processes. It can also be converted back to hydrogen, for instance, to produce heat in industrial processes, to use it as a fuel, or for power generation purposes.

As a derivative of hydrogen, green ammonia has many attributes to contribute to the #energy transition in a meaningful way. It only requires air, water and #renewable #electricity for production. Its favorable storage and chemical characteristics, as well as the existence of an established market and existing infrastructure across several sectors also make it a valuable renewable transition energy vector.

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