Australian Firm Agrees to Invest in Green Energy

ADDIS ABABA – The Ministry of Finance said Australia’s Fortescue Future Industries (FFI) has agreed to invest green hydrogen energy and ammonia production in Ethiopia.

The FFI team, led by CEO  Julie Shuttleworth, is currently visiting Ethiopia to advance its collaboration with the Government in the energy sector.

After a meeting with government officials including Finance Minister Ahmed Shide, the visiting FFI team has reached an agreement to engage in production of green zero carbon green hydrogen and ammonia, officials said.

The agreement is an outcome of several discussions held with the Australian company since 2020, said Finance Minister Ahmed while announcing the agreement along with FFI’s CEO Shuttleworth at Sheraton Addis.

This will put Fortescue Future Industries on truck to become the first investor to produce zero carbon green hydrogen in Ethiopia.

“Thanks to Minister of Finance, Ahmed Shide, for supporting this important energy transition initiative,” said the Australian embassy in Addis Ababa.

Prior to announcement of the agreement, the CEO of Australian company and her team also discussed the FFI’s investment plan with Lelise Neme, head of Ethiopian Investment Commission (EIC).

FFI is planning to construct its facility in Ethiopia to produces zero-carbon green hydrogen energy, said Commission.

Shuttleworth appreciated the convenience of Ethiopia for such a high-tech facility, confirmed to produce 10GW of power investing millions of USD and creating thousands of jobs in the country.

The EIC officials also assured their support and commitment to the success of the project and affirmed their continuous follow-up.