Australia’s Fortescue Future Industries (FFI) will pursue the construction of huge green hydrogen and ammonia production complex in Egypt powered by 9.2 GW of wind and solar capacity.
Australian billionaire Andrew Forrest, FFI’s chairman and founder, discussed his company’s plans with Egyptian President Abdel Fattah El-Sisi at a meeting during the weekend, the company said in a statement. The discussions were held ahead of the COP27 climate meeting in November that will be hosted by the North African country.
“Egypt’s excellent wind and solar resources can generate the renewable energy required to produce large scale green electricity, green hydrogen and green ammonia,” Forrest said.
Specific details about the Australian group’s proposal were not available. Last month, it signed a Memorandum of Understanding (MoU) with Egyptian authorities to conduct studies related to the production of green hydrogen in the Arab Republic.
FFI, the green energy business of Australian iron ore company Fortescue Metals Group Ltd (ASX:FMG), is targeting the production of 15 million tonnes of green hydrogen per year by 2030. To back the plan, the company has embarked on a series of opportunities at home and globally.
