Fortescue to set up world's biggest H2 manufacturing hub in Australia
Fortescue Metals Group Ltd's green energy unit has announced that it will develop what it called the world's biggest centre for producing parts for hydrogen generation and other green energy in Australia's Queensland state, to be in production by 2023.
The manufacturing hub will build specialist equipment like electrolysers used to make hydrogen, wind turbines, solar photovoltaic cells, and long-range electric cabling for Fortescue Future Industries (FFI) and its customers, FFI said in a statement.
The move is part of a drive-by Fortescue's chairman and Australia's richest man, Andrew Forrest, to develop green energy projects such as hydrogen from renewable resources around the world. In the first stage, FFI will build an electrolyser factory in Gladstone, 477 km (296 miles) north of Brisbane, with a preliminary capacity of 2 gigawatts a year which is more than double current production globally, FFI stated.
The construction of the hub will start in February 2022 following final approvals, with the first electrolysers scheduled off the production line in early 2023 in an investment of up to $650 million, subject to demand. FFI expects the initial electrolyser investment to be $83 million.
"FFI's goal is to become the world's leading, fully renewable energy and green products company, powering the Australian economy and creating jobs for Australia as we transition away from fossil fuels," said FFI Chief Executive Officer Julie Shuttleworth in the announcement.
"Our manufacturing arm, starting with electrolysers and expanding to all other required green industry products, will herald the great potential for green manufacturing and employment in regional Australia."