Statkraft, Nel ink LoI to deliver electrolysers for Celsa's rebar mill in Norway

Nel Hydrogen Electrolyser AS, a unit of Norwegian hydrogen specialist Nel ASA (OSE:NEL), and clean power company Statkraft AS have signed a letter of intent (LoI), committing to deliver 40 MW to 50 MW of alkaline electrolysers to green up a steel mill in Norway.

The LoI outlines the plan to develop a large-scale electrolyser plant for Celsa Armeringsstal AS at Mo Industrial Park in Norway, to enable the reinforcement steel producer to use green hydrogen as an alternative to fossil fuels.

Celsa Armeringsstal, part of Nordic companies run by Spain-based steel group Celsa, produces its rebar by recycling scrap metal.

“As a development project, it will require support for technology development and commercialisation to be realised. The project is well positioned for the so-called 'Important projects of common European interest' program in the EU, and will support Norway's hydrogen efforts going forward," said Bjorn Holsen, Head of New Business at Statkraft.

The latest LoI follows another one signed this summer by Statkraft, Celsa and Mo Industrial Park, which laid out a proposal to set up a green hydrogen plant for several companies and processes at Mo. This project, called Hydrogen Hub Mo, is planned to start operation by the end of 2023.

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