Andrew Forrest taps PNG for green hydrogen
Fortescue has turned to the rugged countryside and roaring rivers of PNG to develop an extensive network of hydropower projects.
Fortescue Future Industries has turned to the rugged countryside and roaring rivers of Papua New Guinea to develop an extensive network of hydropower and geothermal projects that could produce up to 2.3 million tonnes of green hydrogen a year.
Significantly, the announcement has put the Australian company at the forefront of major energy infrastructure in PNG, helping to ward off China’s forays into the country.
Only a fortnight ago China President Xi Jinping told PNG Prime Minister James Marape that China was a sincere partner and reliable friend of PNG, and that the two countries should build a community with a shared future.
Mr Xi said China was willing to continue to provide PNG with economic and technical assistance with no political conditions attached. Earlier this year PNG approved a $2.6bn Chinese hydro-electric plant, the Ramu 2 power plant.
But the Fortescue deal is a potentially huge multimillion-dollar undertaking creating 18 green energy and green hydrogen projects.
Fortescue chairman Andrew Forrest said: “These projects will completely transform PNG to become a leader in the world’s renewable energy transition.”
FFI chief executive Julie Shuttleworth said the green energy vision for PNG would lead to more jobs, a stronger economy, thriving communities and, importantly, lower emissions for PNG.
She said: “We share Prime Minister Marape’s vision that PNG can be at the forefront of developing hydropower and geothermal resources for the emerging global green hydrogen industry. We are looking forward to continuing our work alongside the government of PNG to develop these important opportunities.’’
FFI said the proposed Purari Wabo Hydropower project and West New Britain Geothermal project in PNG – both of which were announced more than a year ago – had shown significant progress.
Scoping studies and early-stage pre-feasibility works have been completed. FFI said all the identified projects in PNG could produce up to 2.3 million tonnes of green hydrogen per year once completed.