Partnering up with NTE and SKS on wind power

Mar 06, 2025

H2Carrier forms a partnership with the Norwegian power companies NTE and SKS

for the further development of two wind farms in Finnmark in Norway.

Fornebu 6th March 2025

H2Carrier has entered into an agreement which transfers a majority ownership of

the two wind farms in development within the Norwegian Government’s “power and

industrial initiative for Finnmark” to the two power companies.

- We look forward to team up with NTE and SKS for the further development of our two

important wind farms in Finnmark. This agreement entails a significant strengthening of

our collective resources and ability to successfully execute during all project phases

including planning, construction and operation. For H2Carrier it is also important that

the ownership remains in Norway with a majority owned by public entities, says Mårten

Lunde, CEO of H2Carrier.

- New renewable energy is needed for future value creation, industrial growth and

employment opportunities. We look forward to co-operating with active host

municipalities to enable production of local power and improve safety of power supply.

Onshore wind is the only alternative that can achieve this in time and volume, says Liina

Veerme, CEO of SKS.

- Lots of work remains prior to any construction of the wind farms and it is essential to

gently develop new production to minimize the negative impact. We will emphasize to

maintain and further develop an open and close dialogue with all stakeholders, says

Managing Director of NTE Energi, Inge Forseth

In parallel with the development of the two wind farms, H2Carrier is working to establish

new green industries based on refining renewable power to hydrogen/ammonia (“PtX”)

based on its’ innovative floating production vessel design, «P2XFloater™».

- H2Carrier will remain fully focused on the further development and maturing of the two

wind farms. However, the agreement announced today will enable us to focus even

more on the PtX development and thus creating local employment opportunities and

improving the utilization of the regional grid, states Mårten Lunde of H2Carrier.

H2Carrier has developed two wind farms within the framework of the Norwegian

Government’s «Power and industrial initiative for Finnmark». In September 2024 the

Norwegian Water Resources and Energy Directorate (NVE) initiated a public hearing

process comprising a total of 11 projects for wind farm development.

H2Carrier’s two projects are located at the Nordkyn peninsula in the municipalities of Lebesby and Gamvik (Oksefjorden wind farm) and in Varanger in the municipalites of Berlevåg and

Båtsfjord. Each of the projects are based on 600MW power.

Advokatfirmaet Thommessen AS acted as legal advisor, and Clarksons Securities AS

acted as financial advisor to H2 Carrier AS.

FACTS:

NTE – key numbers 2023

• Yearly production: 4,1 TWh

• Production in Trøndelag (NO3) og Northern Norway (NO4)

• Turnover 5,4 NOK billion

• Employees: 570

• Owned by 19 municipalities in Trøndelag

Salten Kraftsamband (SKS) – key numbers 2023

• Yearly production: 3 TWh

• Production Northern Norway (NO4): 3TWh

• Turnover: 820 NOK million

• Employees: 87

• Owned by the municipalities of Bodø and Fausk, NTE Energi AS, Jämtkraft AB,

Nordlandskraft AS and Bodø pension fund

For more information, see the project websites (in Norwegian):

• https://www.kongsfjordenergi.no/

• https://www.arktisenergi.no/

Contacts

Mårten Lunde | CEO of H2Carrier AS

mobile: +47 481 48 451