Fortescue Future Reinforces Commitment for Hydrogen in Brazil

The Brazilian State of Ceará and Australian iron ore miner FMG’s Fortescue Future Industries have reinforced their intention to develop a green hydrogen project in the northeast of Brazil which could start large-scale green hydrogen production as early as 2027.Governor of Ceará Izolda Cela and representatives of the Pecém Industrial and Port Complex today joined Dr Andrew Forrest AO, Chairman and founder of FFI, and Agustín Pichot, President of FFI Latin America, to sign an Amendment to the Memorandum of Understanding (MoU) entered into in mid 2021 which will see FFI prioritize the Pecém project and associated feasibility studies.The Amendment also reinforces efforts by the State of Ceará to encourage large-scale investments for the development of a green hydrogen hub in the Pecém Industrial and Port Complex, to help provide investment and legal certainty.FFI is currently working to obtain licenses for the Pecém Project, guaranteeing early engagement with the communities involved. The local government will support the availability of land for the project, including to house transmission lines and substations to access the network connection point.If the ongoing feasibility studies confirm the project’s viability, FFI is targeting a Final Investment Decision by 2024 and the commencement of large-scale hydrogen production in Ceará in 2027.The Amendment reinforces existing MoU commitments, including establishing guidelines to promote the development of a local green hydrogen industry in the State of Ceará, and extends the agreement to cover a period of 20 years, extendable for a further 20 years.The FFI Pecem Project aims to produce green hydrogen and its derivatives in the Pecem Industrial and Port Complex, Ceará – Brazil.

Fortescue Future Reinforces Commitment for Hydrogen in Brazil

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