https://www.miningweekly.com

FFI making waves at COP27

10th November 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Green energy developer Fortescue Future Industries (FFI) has reached an agreement with the government of the Republic of Kazakhstan to explore the potential delivery of renewable energy projects and green hydrogen production in the region.

Fortescue founder and chairperson Dr Andrew Forrest met with Republic of Kazakhstan Prime Minister Alikhan Smailov on day two of COP27, signing a framework agreement to explore potential projects for renewable energy sources and green hydrogen production in several regions of Kazakhstan, including Atyrau and Mangistau, areas rich with water and wind resources.

This shift is intended to help meet the government’s ambitious goals of reducing the country’s greenhouse-gas emissions to 15% below their 1990 levels by 2030 and of reaching carbon neutrality by 2060. Kazakhstan generates more than 70% of its electricity from coal but aims for other sources to supply half its power by 2050.

“As part of the alternative energy sources development, green hydrogen production is an important and priority area for our country,” Smailov said.

“According to international studies, Kazakhstan can become one of the top 10 largest exporters of this purely green type of fuel. To achieve this goal, the support of quality partners is vital.”

Forrest said Kazakhstan was well placed to join FFI on the green industrial revolution.

“Kazakhstan is blessed with extraordinary, abundant renewable energy sources and we want to help the government tap into those resources as soon as possible.

“We know that green hydrogen is a practical and implementable solution that can help revolutionise the way we power our planet, help decarbonise heavy industry and create local jobs.

“This Framework Agreement sets us on a path to delivering those benefits to the people of Kazakhstan and helping to end a heavy reliance on dirty fossil fuels.”

Meanwhile, Forrest also signed an amendment to an existing memorandum of understanding (MoU) with the Brazilian State of Ceará, reinforcing the intention to develop a green hydrogen project in the northeast of Brazil which could start large-scale green hydrogen production as early as 2027.

The original MoU, inked in 2021, revolved around FFI prioritising the Pecém green hydrogen project and associated feasibility studies.

The amendments reinforce efforts by the state of Ceará to encourage large-scale investments for the development of a green hydrogen hub in the Pecém Industrial and Port Complex, to help provide investment and legal certainty.

FFI is currently working to obtain licences for the Pecém project, guaranteeing early engagement with the communities involved. The local government will support the availability of land for the project, including to house transmission lines and substations to access the network connection point.

If the ongoing feasibility studies confirm the project’s viability, FFI is targeting a final investment decision by 2024 and the commencement of large-scale hydrogen production in Ceará in 2027.

The amendment reinforces existing MoU commitments, including establishing guidelines to promote the development of a local green hydrogen industry in the state of Ceará, and extends the agreement to cover a period of 20 years, extendable for a further 20 years.

“We are committed to helping to drive the development of a green hydrogen sector in Brazil, not only because of the environmental benefit that will come from ending the world’s reliance on fossil fuels but also because of the economic benefits that the green energy transition can bring to local communities,” said Forrest.

“Our studies into a project in Pecém will be informed by the knowledge we have amassed over the last 18 months from across our global portfolio of renewable energy projects and the research and development we’ve completed, including how best to work with local stakeholders to prevent and reduce any impact on local eco-systems,” Forrest said.

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION