Australia’s Fortescue Future Industries (FFI) has continued its relentless deal making drive, striking a new green hydrogen agreement with Djibouti.
The Australian company said it had signed a deal to carry out studies on potential development. The framework agreement is a “major step” towards Djibouti starting to produce green hydrogen, it said.
“Djibouti does not want to miss this historic moment when green hydrogen becomes the fuel for energy transition,” said Minister of Energy and Natural Resources Yonis Ali Guedi. The minister went on to note the potential for local job creation.
Under the deal, FFI will have the right to study various renewable energy resources in Djibouti. These include solar, wind and geothermal, as well as gas storage areas.
FFI CEO Julie Shuttleworth said the deal was a “great step towards lowering emissions and driving green energy projects forward”. She went on to say Djibouti’s renewable potential, in addition to its port, “makes it an attractive location for the production of green hydrogen”.
“FFI is committed to delivering social, environmental and economic benefits, and we look forward to working with the Government of the Republic of Djibouti in this new venture,” she said.
Should the studies encourage FFI, the parties could then negotiate an investment agreement. This would allow for the development and construction of green hydrogen facilities, the statement said.
FFI has considered a number of countries in its drive to secure green hydrogen supplies. These include Jordan, Kenya and Namibia. The Australian company has also been in talks on Congo Kinshasa’s Grand Inga project.
Recommended for you
