GeelongPort and Fortescue Future Industries have signed a Memorandum of Understanding to undertake a joint feasibility study to construct a green hydrogen production facility in Geelong. The feasibility study will investigate the suitability and environmental benefits of a green hydrogen production facility at GeelongPort. It will focus on assessing the accelerated implementation of a large-scale production facility from green hydrogen and preferred derivatives, including ammonia, for export and domestic use.Through this feasibility study, GeelongPort and FFI will map key operational and commercial plans for the project and develop a potential production timeline. The study will also assess the suitability of an optimal site within the GeelongPort.Under the non-binding MOU, GeelongPort and FFI expect to complete the joint feasibility study by the end of 2023, and a final investment decision is expected to be made at the end of 2024.Pending a successful outcome, the facility has the potential to create local jobs during construction and support direct and indirect renewable energy jobs as Victoria transitions to green energy.The project would contribute to the Victorian Government’s ambitious targets to achieve 95% renewable electricity by 2035 and reach net zero emissions by 2045.
GeelongPort and Fortescue Future Industries have signed a Memorandum of Understanding to undertake a joint feasibility study to construct a green hydrogen production facility in Geelong. The feasibility study will investigate the suitability and environmental benefits of a green hydrogen production facility at GeelongPort. It will focus on assessing the accelerated implementation of a large-scale production facility from green hydrogen and preferred derivatives, including ammonia, for export and domestic use.Through this feasibility study, GeelongPort and FFI will map key operational and commercial plans for the project and develop a potential production timeline. The study will also assess the suitability of an optimal site within the GeelongPort.Under the non-binding MOU, GeelongPort and FFI expect to complete the joint feasibility study by the end of 2023, and a final investment decision is expected to be made at the end of 2024.Pending a successful outcome, the facility has the potential to create local jobs during construction and support direct and indirect renewable energy jobs as Victoria transitions to green energy.The project would contribute to the Victorian Government’s ambitious targets to achieve 95% renewable electricity by 2035 and reach net zero emissions by 2045.
