Australian iron ore miner Fortescue Metals Group has announced that its subsidiary Fortescue Future Industries (FFI) and the Ministry of Energy of the Republic of Azerbaijan have signed an agreement to work together to study and develop potential green hydrogen and renewable energy projects in Azerbaijan.
The parties will explore up to 12GW of potential projects from renewable energy sources and green hydrogen production in the country.
“Despite being historically an oil and gas country, Azerbaijan is well placed to join FFI on the green industrial revolution due to its strategic location to bring green energy to European countries,” Andrew Forrest, Fortescue executive chairman, said.