Horisont Energi (EURONEXT: HRGI) has announced an agreement with the Spanish ammonia production giant Fertiberia, to complete the development of what will become the largest European clean ammonia plant. The Barents Blue facility will have a production capacity of 1 million tonnes per year once it goes live in 2026.
Fertiberia’s focus is on agricultural solutions for crop nutrition and the new 50-50 partnership will help with its growth plans, as well as its commitment to become carbon neutral by 2035.
Projects like the one between Horisont Energi and Fertiberia have become a priority for European companies because of two imperatives – decarbonization and reducing dependency on fertilizer production from Russia and Ukraine. Barents Blue has already been awarded a $48.5 million grant by the EU through its common European Interest scheme (IPCEI).
Norwegian companies Equinor and Vår Energi are the outgoing partners from the project, but the decision is not indicative of shift in attitude towards hydrogen from the former. Equinor is working on several large scale projects in the industry, including a hydrogen power plant in Germany in partnership with RWE, and the H2H Saltend plant in the Humber region of the UK.