Fortescue Future Industries (FFI) is partnering with Papua New Guinea, one of the most renewable energy-rich countries in the world, to develop multiple large-scale green energy and green hydrogen projects.

FFI’s Papua New Guinea Fortescue Future Industries Ltd, and the State of Papua New Guinea today signed a Master Development Agreement (MDA) that will enable FFI to undertake feasibility studies to develop up to seven hydropower projects and 11 geothermal energy projects in PNG.

These projects would 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.

FFI’s identified projects in PNG could produce up to 2.3 MMtpy of green hydrogen once completed.

"Our green energy vision for PNG will lead to more jobs, a stronger economy, thriving communities and importantly, lower emissions for Papua New Guinea," FFI CEO, Julie Shuttleworth AM 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."