Enel’s renewables arm, Enel Green Power, is set to partner with billionaire Andrew Forrest’s Fortescue Future Industries – a union set to “explore co-development of the green hydrogen value chain” with an initial focus on Latin America and Australia.
The collaboration, the companies said, intends to establish a framework to identify and assess possible green hydrogen and ammonia projects, with an overall vision of having these products reach parity with fossil fuel-based alternatives by 2030.
FFI’s CEO, Mark Hutchinson, described the announcement as coming at a critical moment in energy. “As winter approaches, and energy costs continue to skyrocket, competitive green energy costs have never been more needed.”
While the announcement pushes that both companies see green hydrogen as useful for steel manufacturing, fertilisers, and other chemical industries, it would appear the main focus is still on developing it as a fuel source – and potentially even a gas heating alternative, though this isn’t clear.
Such focuses have been criticised by BayWa r.e. Australia’s technology innovation and hydrogen lead, James Hamilton, among others.
FFI has been growing rapidly in the last years, and is easily Australia’s most ambitious player when it comes to green hydrogen.
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