GeelongPort, FFI explore hydrogen opportunities in Australia
SUMMARY
They will undertake a feasibility study to investigate the suitability and environmental benefits of a green hydrogen production facility at Geelong in Victoria. [Image: GeelongPort]
By Shardul SharmaPOSTED IN:
GeelongPort and Fortescue Future Industries (FFI) have signed a memorandum of understanding to undertake a joint feasibility study to construct a green hydrogen production facility in Geelong in Victoria, GeelongPort said on February 16.
The feasibility study will investigate the suitability and environmental benefits of a green hydrogen production facility at GeelongPort. It will focus on assessing the accelerated implementation of a large-scale production facility from green hydrogen and preferred derivatives, including ammonia, for export and domestic use.
GeelongPort CEO Brett Winter said the project, if successfully implemented, could substantially benefit the region and support Victoria’s ambitious renewable energy targets.
“Fortescue is leading the charge on developing green hydrogen in Australia, and we are excited to partner with them on this potentially transformative study in Victoria,” he said. “A green hydrogen facility will support the development of new industries in Geelong, contribute to Victoria’s energy security, and create local jobs during both construction and operation.”
Through this feasibility study, GeelongPort and FFI will map key operational and commercial plans for the project and develop a potential production timeline. The study will also assess the suitability of an optimal site within the GeelongPort.
FFI director for East Australia and New Zealand, Eva Hanly, said FFI’s goal was to turn regional Australia into a global green energy heartland and create thousands of jobs now and many more in the future.
Under the non-binding MoU, GeelongPort and FFI expect to complete the joint feasibility study by the end of 2023, and a final investment decision is expected to be made at the end of 2024.
