Photo credit: Fortescue Future Industries
According to Julie Shuttleworth, chief executive officer of Fortescue Future Industries (FFI), is working with the government to accelerate the energy transition before 2050.
“The FFI is partnering with PNG, one of the most renewable energy-rich countries in the world, to develop multiple large-scale green energy and green hydrogen projects,” Shuttleworth said.
“This new partnership marks the beginning of the green industry development in PNG and will enable FFI to undertake feasibility studies to develop up to seven hydropower projects and 11 major geothermal energy projects in PNG.
“If the projects proceed, it will generate renewable electricity for the purpose of producing green hydrogen and green ammonia, creating a significant new domestic energy and export industry for Papua New Guinea, which currently heavily relies on imported oil.
PNG’s intent is to use 100 per cent renewable energy by 2050 and we are delighted to be working with PNG to support this ambition.”
She stated that the FFI was dedicated to assisting PNG in lowering its dependency on fossil fuels and leveraging its renewable energy potential.
“Our green energy vision for PNG would lead to more jobs, a stronger economy, thriving communities and importantly, lower emissions for PNG,” Shuttleworth added.
Reference: The National (12 November 2021). “Partners aim to fast track green energy”.