FDE's Strategic Contract Accelerates Low-Carbon Hydrogen Deployment in Norway
Key Ideas
  • FDE signed a strategic supply contract for electrolysers in Norway worth several million euros for the Agder Hydrogen Hub project, marking a significant step in their low-carbon hydrogen strategy.
  • The project received financial support from ENOVA and involves the purchase of 20 MW of electrolysers from ITM Power, with plans for expansion to 60 MW by 2027.
  • The contract, valued at €20 million, includes a 10-year service commitment from ITM Power to ensure equipment performance and uptime, showcasing a strong financial and strategic impact.
  • FDE aims to achieve an annual turnover of more than €175 million and reduce over 20 million tons of CO2 emissions per year by 2030, solidifying its leadership in low-carbon energy in Europe.
FDE, a carbon-negative energy producer based in Pontpierre, France, has signed a strategic supply contract in Norway for the Agder Hydrogen Hub project, advancing their low-carbon hydrogen strategy. The contract includes the purchase of 20 MW of electrolysers from ITM Power, with plans to expand to 60 MW by 2027. This project is supported by ENOVA with a subsidy of NOK 148 million, representing nearly 40% of the total investment cost. The agreement, valued at €20 million, also involves a 10-year service commitment from ITM Power to optimize equipment performance. FDE aims to achieve significant financial targets by 2030, including an annual turnover exceeding €175 million and an EBITDA of over €85 million while contributing to reducing more than 20 million tons of CO2 emissions per year. This strategic move reinforces FDE's position as a leader in low-carbon energy production in Europe, demonstrating a strong commitment to the energy transition and positioning the company as a key player in the low-carbon energy sector.
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