Aker Horizons, through its portfolio company Aker Clean Hydrogen, and Statkraft have signed collaboration agreements to jointly explore opportunities for green hydrogen and ammonia production in India and Brazil, targeting local steel and fertilizer industries. The collaboration brings together Aker Clean Hydrogen, a global integrated hydrogen, ammonia and methanol producer building on Aker’s 180 years of industrial heritage, and Statkraft, a leading developer and generator of renewable energy with a substantial experience and presence in India and Brazil.Aker Clean Hydrogen and Statkraft have agreed to explore joint development opportunities of fully-integrated renewable power generation and green hydrogen production in India, targeting domestic hard-to-abate industries such as the steel industry, as well as ammonia for domestic use and export. The steel industry in India produces about 100 million tonnes of steel annually. In India, green hydrogen can be used to replace grey, fossil fuel-based hydrogen, coal and natural gas as fuel and feedstock. This will significantly reduce CO2 emissions, while bolstering the country’s energy security, making it less vulnerable to energy market volatility. India currently consumes approximately 7 million tonnes of grey hydrogen per year, making it the world’s second largest hydrogen consumer. The country’s current hydrogen demand is expected to reach approximately 12 million tonnes by 2030 and about 28 million tonnes by 2050. India’s commitment to reach net zero by 2070, announced during the 26th UN Climate Change Conference, will further increase green hydrogen demand in one of the fastest growing economies in the world.In Brazil, Aker Clean Hydrogen, Statkraft and Sowitec, a company specializing in developing renewable wind and solar assets, aim to jointly develop power-to-X projects in the state of Bahia. The first project opportunity being pursued is a large-scale hybrid project, which combines renewable power generation, and hydrogen and ammonia production for the local fertilizer industry. Brazil is the world’s fourth largest consumer of fertilizers, accounting for about 8 percent of global demand. Currently, the country imports more than 80 percent of its consumption. Recently the Brazilian government enacted their 2022-2050 National Fertilizer Plan, seeking to reduce the Brazilian dependency on imported fertilizers by, amongst other means, attracting and supporting foreign investments.