Aker Horizons has agreed to form a joint venture with Nordkraft to develop sites for power-intensive industries in northern Norway.
Aker Horizons and its portfolio companies are utilizing their capabilities across hydrogen and renewable energy to establish green value chains for power-intensive industries. The joint venture will look to develop attractive sites for power-intensive industries, with roads and other common infrastructure such as water supply, fiber access and grid infrastructure for shared use. The companies will start by acquiring Nordkraft's rights to the sites at Kvandal, Fjellbu, Balsfjord, Korgen and Straumsmo.
Aker Narvik will hold an 80 percent stake in the joint venture partnership, and Nordkraft will hold the remaining 20 percent.
“Northern Norway, and the Narvik region in particular, offers highly attractive opportunities for decarbonizing power-intensive industries, using the area's renewable energy surplus,” said Kristian Røkke, CE