Fortescue wins govt approval for 2-GW electrolyser factory in Queensland

Fortescue Future Industries (FFI) announced today it has secured planning approval for its recently-unveiled plan to build a manufacturing hub with an up to 2-GW electrolyser factory in Queensland’s Gladstone region.

The First Global Green Energy (GEM) centre will involve the production of wind turbines, long-range electric cabling, solar photovoltaic (PV) cells, electrolysers and related infrastructure. The ambitious project will be realised in six stages at an overall cost exceeding AUD 1 billion (USD 730.1m/EUR 645.4m).

The planning nod from the Queensland government comes only a month after plans for the initiative were unveiled and paves the way for construction of stage one to begin in February 2022, the green energy business of iron ore giant Fortescue Metals Group Ltd (ASX:FMG) said. The first electrolysers, being the first phase of the huge scheme, are expected to be produced in early 2023.

FFI will make an initial investment of up to AUD 114 million in the electrolyser factory, set to become the first milti-gigawatt-scale facility of its kind in Australia and the largest one globally. It will be installed on land developed by the Queensland government at Aldoga within the Gladstone State Development Area.

FFI is partnering with the Queensland government on the project.

(AUD 1.0 = USD 1.370/EUR 1.549)

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