Fortescue’s green energy subsidiary Fortescue Future Industries has produced announcements of potential green hydrogen projects at a rapid rate since it was formed a year ago.
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When asked what were FFI’s three highest priority projects Ms Gaines gave little away with a generic response of decarbonising Fortescue’s existing operation being paramount together with a domestic and an international project.
“There’s a raft of opportunities to choose,” she said.
Fortescue listed seven projects in FFI’s portfolio but its plan to manufacture ammonia from green hydrogen in Tasmania was conspicuously absent.
The project was to be sanctioned by December 2021 and last year FFI’s growing Perth headquarters featured a screen that counted down the minutes to first production in June 2023 from the 250-megawatt plant. Negotiations with the Tasmanian Government for hydropower have stalled with the government indicating it would not supply plants exclusively run on hydropower but instead firm up wind power.
Fortescue made a shortlist of four, announced yesterday, to partner with two New Zealand energy companies on their 600 megawatt Southern Green Hydrogen project in the South Island.
Available hydropower could see a relatively quick shift from investment to production, a prize also sought by Woodside, Japan’s Mitsui and specialty gas company Linde.
Fortescue shares dropped 2.0 per cent to close at $21.15.
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