Enel, FFI to jointly pursue green H2 projects in LatAm, Australia

The renewables development units of Italian energy major Enel SpA (BIT:ENEL) and Aussie miner Fortescue Metals Group (ASX:FMG) have agreed to explore the co-development of a green hydrogen value chain, initially focusing on Latin America and Australia.

Enel Green Power SpA (EGP) and Fortescue Future Industries (FFI) said in a joint statement that they share a common view on green hydrogen’s importance when it comes to the decarbonisation of hard-to-abate sectors such as fertiliser and other chemicals production, steel manufacturing, shipping and aviation.

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The two partners plan to create a framework for them to identify and assess possible green hydrogen and green ammonia projects. They did not give information about any particular developments.

“This collaboration with a partner such as FFI fully fits within Enel’s hydrogen strategy to reduce the green hydrogen production cost, through the scale-up of technology and through innovative solutions,” stated Salvatore Bernabei, CEO of Enel Green Power.

The goal of the partnership is to make green hydrogen cost-competitive with fossil fuel-based alternatives this decade.