Fortescue Future Industries (FFI) has extended its reach into the hydrogen ecosystem with the acquisition of a 60% stake in High Yield Energy Technologies (HyET) as the group targets supplying 15 million tonnes of green hydrogen by 2030.
As well as acquiring a 60% stake in HyET, FFI is also providing a majority share of financing for the expansion of a HyET solar PV factory.
With this, the renewable energy generated at the site could also be used to produce green hydrogen.
This could ultimately drive down the cost of green hydrogen with more of the clean energy carrier available for the market.
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