Fortescue and E.ON partner to supply green hydrogen to Europe
The two companies have joined up to replace Russian gas supply with alternative energy in hopes to build one of the largest energy supplies in the continent.
Australian renewable green energy company Fortescue Future Industries and E.ON have signed a new partnership to deliver up to five million tonnes per annum of green, renewable hydrogen (GH2) to Europe by 2030.
“The announcement of this historic partnership today aims to diversify the future energy security in Europe. Green energy will reduce fossil fuel consumption dramatically in Germany and quickly help substitute Russian energy supply, while creating a massive new employment intensity industry in Australia. This is a cohesive and urgently needed part of the green industrial revolution underway here in Europe,” said Dr Andrew Forrest, Chairman and Founder of FFI.
Both partners signed a Memorandum of Understanding to execute on this ambition, with binding elements between the parties to deliver on this mission. Each side has committed to a research and study partnership, with further detailed documentation and steps required related to supply.
The two companies are together in the spirit of the Australia-Germany Hydrogen Accord signed in June 2021 at the G7. Both firms will work together, in collaboration with their governments, regarding how to achieve supply as fast as possible. Both aim to ramp up quickly to five million tonnes per annum of GH2 by 2030.
This partnership marks E.ON’s and FFI’s broader ambition to lead the decarbonisation of Europe and to strengthen security of green energy supply at a time when Europe needs to reduce its energy dependence on fossil fuels from Russia as quickly as possible. Five million tonnes per annum of renewable GH2 is equal to approximately one third of the calorific energy Germany imports from Russia.
