The UK Government’s launch of its Energy Security Plan, “Powering Up Britain” marks two significant...
London, United Kingdom, 20 December 2024 - Storegga is thrilled to announce that the Cromarty Hydrogen Project, a joint initiative with ScottishPower, has signed one of the first three groundbreaking hydrogen production contracts with the Low Carbon Contracts Company (LCCC). This marks a major milestone in advancing the UK’s hydrogen economy and accelerating decarbonisation across key industries.
The Cromarty project, located in the Scottish Highlands, is part of the Hydrogen Allocation Round 1 (HAR1), the UK Government’s pioneering scheme to support hydrogen production through long-term revenue contracts. Once operational, Cromarty will produce clean hydrogen to help decarbonise hard-to-abate sectors, support regional economic growth, and create jobs, driving Britain closer to its Net Zero goals.
Key Highlights:
A Landmark Achievement: Cromarty is one of the first three projects in the UK to secure a Hydrogen Business Model contract, alongside Whitelee and West Wales, with a combined capacity of 31.8MW.
Driving Regional Growth: By leveraging the region’s renewable energy strengths, the project will create significant employment opportunities and attract investment to the Scottish Highlands.
Accelerating Decarbonisation: Clean hydrogen produced by Cromarty will play a vital role in reducing emissions across industries such as transportation and heavy manufacturing.
Tim Stedman, Storegga’s Chief Executive Officer said:
“Securing this contract for the Cromarty Hydrogen Project is a testament to the transformative potential of hydrogen in Britain’s energy transition. We are proud to partner with ScottishPower and the LCCC to deliver a project that will not only decarbonise industry but also drive meaningful economic growth in the Highlands. This is a significant step forward for the UK hydrogen economy and an inspiring example of what can be achieved through innovation and collaboration.”
The Hydrogen Production Business Model, inspired by the success of Contracts for Difference (CfD), is a global first in providing structured, government-backed revenue support to de-risk investments in clean hydrogen production. This initiative is critical to fostering the growth of a thriving hydrogen sector in the UK.
Storegga is excited to continue collaborating with our partners and stakeholders as we move closer to a final investment decision and bringing the Cromarty Hydrogen Project to life.
