LONDON (ICIS) – Fortescue Future Industries (FFI) and Tree Energy Solutions (TES) have entered into a global strategic collaboration to accelerate the development of green (renewable) hydrogen and an import facility for green energy in Germany, an Oct. 5 press release from Fortescue Metals Group Ltd said.
An investment of approximately €130 million will come from FFI’s unused capital commitment, of which €30 million will be used to become an investor in TES and the remaining €100 million to build the TES terminal in Wilhelmshaven, Germany.
“The first phase of this partnership is to jointly develop and invest in the supply of 300,000 tonnes of renewable hydrogen, with final locations currently agreed and a financial investment decision targeted in 2023,” the press release said.
According to TES, the Wilhemshaven terminal layout will include six ship berths (suitable for Suez max) and 2 million cubic meters (mcm) of onshore storage capacity using 10 on-site tanks, six of which will be available during the initial phase.
The first delivery of renewable hydrogen to Wilhemshaven is scheduled for 2026, with collaborative projects already in place with Australia, the Middle East and Africa, FFI said in the press release.
The European Commission has targeted the import of 10 million tonnes of renewable hydrogen by 2030 from outside the EU. Imports are expected to be transported either by pipeline links to the EU or by ship.