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Forrest strikes huge $50 billion green hydrogen plan with German energy giant E.ON

By March 29, 2022April 28th, 2022No Comments

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Forrest strikes huge $50 billion green hydrogen plan with German energy giant E.ON

Mar 29, 2022 • RenewEconomy

Australia iron ore billionaire Andrew Forrest has struck a potential $50 billion green hydrogen agreement with German energy giant E.ON to produce up to five million tonnes of green hydrogen by 2030

Australia iron ore billionaire Andrew Forrest has struck a potential $50 billion green hydrogen agreement with German energy giant E.ON to produce up to five million tonnes of green hydrogen by 2030.  The landmark agreement could deliver one third of Forrest’s hugely ambitious plans to produce 15 million tonnes of green hydrogen by 2030, a target the head of his own green energy company Fortescue Future Industries Julie Shuttleworth thought was “very, very stretch”, but now says is quite achievable. Forrest signed a Memorandum of Understanding (MoU) with E.ON and Germany government leaders in Berlin on March 29, 2022, and indicated it would include exports of renewable hydrogen from Australia. The parties have also agreed to work together to analyse what solutions could look like to solve infrastructure issues and to build a secure value chain.

Forrest insisted the energy for the project would come from the wind and the sun in Australia and be shipped to Europe in the form of green ammonia and also in liquid hydrogen.  “It will be transported initially as green ammonia,” he said. “The Plan A is to build on the successful bulk shipment we have seen from Australian to Japan most recently. “Liquid hydrogen will become the largest seaborne trade in the world. If it starts as green ammonia great, but I can assure you soon the bulk ships of green hydrogen will be sailing as liquid green hydrogen.”

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