Magnora to partner with Prime Capital, Troms Kraft for hydrogen-based marine fuel project in Norway

Norwegian renewable energy investor Magnora ASA is partnering with investment and asset manager Prime Capital and publicly-owned power company Troms Kraft to build a green maritime fuel project in the Tromso area, northern Norway. 

The project seeks to develop the large-scale production of green hydrogen and the conversion into green ammonia and/or liquid organic hydrogen carriers. 

Magnora has signed an agreement with Prime Capital and Troms Kraft to collaborate in the development of the project, which is currently in the feasibility phase. The final investment decision will be released by late 2022 to mid-2023. The project is expected to enter into commercial operation by 2025.