Norwegian Government Awards $108 Million for Green Shipping Projects
Key Ideas
- Norwegian government awarded $108 million to 14 projects focusing on ammonia, hydrogen, and electric vessels in the maritime industry.
- Enova's funding has significantly increased under Prime Minister Jonas Gahr Støre, reaching over $800 million annually to accelerate the shift to future fuels.
- Ammonia and hydrogen projects received nearly $83 million in funding, with notable projects like MS Green Ammonia and hydrogen-powered passenger vessels.
- Enova aims to establish functioning value chains for hydrogen and ammonia, supporting the development of zero-emission solutions in Norway's maritime sector.
The Norwegian government's Enova SF project recently allocated approximately $108 million in funding to 14 projects aimed at advancing environmental-friendly technologies in the maritime industry. These projects focus on the use of ammonia, hydrogen, and battery-powered ships, along with supporting technologies. Enova's ongoing programs are specifically designed to drive the adoption of future fuels within the shipping sector.
Enova's funding has seen a significant increase, reaching over $800 million annually since Prime Minister Jonas Gahr Støre took office in October 2021. The latest round of funding in 2024 supported a total of 24 vessels that will utilize hydrogen or ammonia as their primary fuel source. The organization plans to continue its support for such projects, with upcoming rounds scheduled in 2025 and 2026, specifically targeting ammonia and hydrogen programs.
A strong response was witnessed in the recent round, with a total of 31 applications received by Enova. Notable recipients of the funding include projects by Eidesvik Shipping, DOF Group, Aurora Offshore, Greig Ammonia, and Cruise Service AS, focusing on ammonia and hydrogen-utilizing vessels. The projects range from supply vessels to bunkering and distribution vessels.
Enova's goal is to establish hydrogen and ammonia as zero-emission solutions for the maritime industry, with a special emphasis on creating value chains for these alternative fuels. Additionally, support was provided for hydrogen production projects to ensure the availability of hydrogen as a fuel along the Norwegian coast.
In addition to funding ammonia, hydrogen, and battery projects, Enova also supported electric vessels, awarding approximately $25 million to five projects. These projects included bulk shipping vessels and a passenger vessel, demonstrating Norway's commitment to transitioning to greener maritime practices.
Overall, the funding awarded by the Norwegian government through Enova reflects a positive sentiment towards advancing sustainable and environmentally friendly technologies within the maritime industry, with a strong focus on promoting the use of hydrogen and ammonia as key components of the energy transition.
Topics
Projects
Technology
Investment
Energy Transition
Funding
Government Support
Maritime Industry
Green Shipping
Environmental Friendly
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