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July 30, 2023
By Julian Atchison
Allianz invests in
Norwegian renewable ammonia production
Fuella: two plants
under development
![](images/images_08_10_2023/Flag_of_Norway.png)
Click to learn more. Allianz will invest €20 million in Fuella, a
Norway-based project developer currently working on two renewable
ammonia production projects.
Allianz will invest €20 million in Fuella,
a Norway-based project developer currently working on two renewable
ammonia production projects. The minority stake will allow Allianz to
invest in future Fuella projects, which will focus on the production
of ammonia at key locations in Norway. Fuella locates its production
projects based on several factors: ease of access to renewable
electricity from Norway’s grid, efficient offtake options and easy
ammonia transport routes.
Fuella is our second direct investment into green hydrogen and is
building upon our most recent investment in Finnish green power-to-gas
developer Ren-Gas. The investment in Fuella aligns perfectly with our
overall energy transition infrastructure investment strategy and
underlines the importance we attribute to green molecules for the
energy transition in Europe.
Michael Pfennig, Co-Head of Infrastructure at Allianz Capital Partners
in his organisation’s official
press
release, 27 July 2023
Norway is very well positioned for the production of green molecules.
We are delighted to have Allianz as our partner in accelerating the
development of our green ammonia projects. Their investment and
expertise in the energy transition sector will significantly enhance
our capabilities and expedite the execution of our project portfolio.
Cornel Russi, Co-CEO of Fuella in Allianz Capital Partners’ official
press release, 27 July 2023
Wind & Water
In the Skipavika Industrial Park on Norway’s southwest coast, Fuella
is developing a 100,000 tonnes per year renewable ammonia production
plant. Casale will build the ammonia plant, supplying the synthesis
technology platform. Operating at full capacity by 2026, the project
is targeting the maritime fuels sector (Skipavika is located in an
area of heavy shipping traffic). Fuella indicates that key terms have
already been agreed upon with a European energy utility for purchasing
renewable ammonia from the plant. Ammonia can function as a “battery
for offshore wind” with Norway targeting the development of 30 GW
capacity by 2040.
We are very pleased with this partnership that enables the facility to
produce carbon free fuel in close range to a major shipping hub and in
outstanding synergies within the industrial park. This project has the
potential to be a major enabler for the scale-up of climate friendly
shipping in Norway.
Rolf Kehlhofer, Chairman of Fuella in his organisation’s official
press release, 8 Dec 2021
Fuella’s other project is in Korgen, northern Norway. Located close to
a hydro power plant and substation connection, the 200,000 tonnes per
year plant will also be operational by 2026. The Korgen plant will
target the fertiliser and shipping sectors.
Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com
509 995 1879 cell, Pacific.
Nathan1@greenplayammonia.com
exactrix@exactrix.com
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