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Fortescue Future Industries sees great potential for co-op with Azerbaijan in renewables

Economy Materials 29 November 2022 09:18 (UTC +04:00)
Fortescue Future Industries sees great potential for co-op with Azerbaijan in renewables
Maryana Akhmedova
Maryana Akhmedova
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BAKU, Azerbaijan, November 29. Azerbaijan has a significant untapped renewable energy potential, a spokesperson at the Australian Fortescue Future Industries (FFI) told Trend.

According to the source, FFI is building a portfolio of hydropower, the geothermal, wind, and solar resources across the globe and already sees great progress on a number of them.

"This includes Azerbaijan as well. Being located along the Caspian Sea Coast, we see an opportunity to harness Azerbaijan’s wind potential to generate renewable energy, while also exploring the potential production of green hydrogen," FFI’s spokesperson said.

As the FFI representative noted, the company is currently working with key stakeholders, and in August 2022, Andrew Forrest, Executive Chairman of FFI, met with Rovshan Najaf, president of SOCAR, and Parviz Shahbazov, Minister of Energy of Azerbaijan, to discuss future cooperation.

Meanwhile, FFI has already prepared a project plan for the production and export of green hydrogen in Azerbaijan, which was recently presented at the second meeting of the commission on renewable energy sources under the chairmanship of Parviz Shahbazov.

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