Fortescue eyes huge H2 manufacturing with 9.2 GW of wind, solar in Egypt
- Australia's Fortescue Future Industries (FFI) will certainly pursue the building of huge green hydrogen and ammonia manufacturing complex in Egypt powered by 9.2 GW of wind and also solar capacity.
Australian billionaire Andrew Forrest, FFI's chairman and owner, discussed his business's plans with Egyptian President Abdel Fattah El-Sisi at a conference throughout the weekend, the business said in a declaration. The conversations were held ahead of the COP27 climate conference in November that will certainly be hosted by the North African nation.
"Egypt's exceptional wind as well as solar resources can create the renewable resource called for to create big scale green power, green hydrogen and green ammonia," Forrest stated.
Specific details concerning the Australian group's proposition were not available. Last month, it authorized a Memorandum of Recognizing (MoU) with Egyptian authorities to conduct studies related to the manufacturing of green hydrogen in the Arab Republic
FFI, the green power organization of Australian iron ore business Fortescue Metals Group Ltd (ASX: FMG), is targeting the production of 15 million tonnes of green hydrogen each year by 2030. To back the plan, the company has embarked on a collection of chances in the house and around the world.