Australian renewable green energy developer Fortescue Future Industries (FFI) and Enel Green Power will partner together to explore co-development of the green hydrogen value chain with an initial focus on Latin America and Australia.
The companies, through this collaboration, aim to make green hydrogen cost-competitive with fossil fuel-based alternatives during this decade.
Enel Green Power chief executive Salvatore Bernabei said: “We strongly believe that in the near future green hydrogen can play a strategic role in the decarbonization of global energy systems, complementing direct electrification.
“This collaboration with a partner such as FFI fully fits within Enel’s hydrogen strategy to reduce the green hydrogen production cost, through the scale-up of technology and through innovative solutions.”
FFI chief executive Mark Hutchinson added: “This exciting announcement comes at a critical moment in energy.
“As winter approaches, and energy costs continue to skyrocket, competitive green energy costs have never been more needed.
“Green hydrogen and green ammonia are part of the solution for not only energy security and lower energy costs, but also for fighting climate change.
“With a strong proven record and dedication in green energy, Enel is the perfect partner to work with to make a green future a reality.”