Fortescue Future Industries (FFI) is to undertake feasibility studies on seven new hydropower projects and 11 geothermal energy projects in Papua New Guinea, with the projects electricity expected to be used to produce green hydrogen and green ammonia.
FFI’s Papua New Guinea Fortescue Future Industries Ltd, and the State of Papua New Guinea signed a Master Development Agreement (MDA) on 5 November, with the developments likely to create significant new domestic energy and export industry for PNG, which currently heavily relies on imported oil.
“Our green energy vision for PNG will lead to more jobs, a stronger economy, thriving communities and importantly, lower emissions for Papua New Guinea,” commented FFI Chief Executive Officer, Julie Shuttleworth AM. “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 Papua New Guinea to develop these important opportunities.”
FFI’s identified projects in PNG could produce up to 2.3 million tonnes of green hydrogen per year once completed. Its proposed Purari Wabo Hydropower project and West New Britain Geothermal project have made significant progress with scoping studies and early-stage pre-feasibility works completed.
