Fortescue Future Industries to work closely with Azerbaijan in green energy sphere

Oil&Gas Materials 10 February 2023 13:09 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Feb.10. Australian Fortescue Future Industries (FFI) will work closely with Azerbaijan in green energy sphere, FFI spokesperson told Trend.

“Azerbaijan's plan is to meet 30 percent of its domestic needs for electricity from renewable energy sources by 2030, and to export green energy to Europe. FFI will work closely with the government in the coming period to identify the most appropriate location for potential projects from renewable energy sources and green hydrogen production,” said the spokesperson.

The FF1 representative noted that Azerbaijan is ideally placed geographically to export green energy to Europe through existing pipelines and through potential cable interconnectors which are being discussed by the European Union and Azerbaijan.

“FFI is interested in exploring both the export of green energy to Europe and the use of green energy for the decarbonization of Azerbaijan,” said the spokesperson.

Fortescue Future Industries signed a memorandum with Azerbaijan’s Ministry of Energy in late 2022 for the implementation of a project for production of 12,000 megawatts of wind and solar energy in Azerbaijan.

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


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