Fortescue Future Industries (FFI) will work with the Republic of Kazakhstan to explore the potential to deliver renewable energy projects and green hydrogen production.
FFI and the Kazakhstan Government have cultivated a strong partnership in recent years.
Fortescue chairman and founder Andrew Forrest held detailed discussions with Kazakhstan President Kassym-Jomart Tokayev in Nur-Sultan in August and most recently with the Prime Minister of the Republic of Kazakhstan Alikhan Smailov.
The pair signed a framework agreement to explore potential projects for renewable energy sources and green hydrogen production in several regions of Kazakhstan, including Atyrau and Mangistau, areas rich with water and wind resources.
“As part of the alternative energy sources development, green hydrogen production is an important and priority area for our country,” Smailov said.
“According to international studies, Kazakhstan can become one of the top 10 largest exporters of this purely green type of fuel. To achieve this goal, the support of quality partners is vital.”
FFI considers Kazakhstan to have significant wind and solar energy capacity and FFI is committed to helping the country reach its target of carbon neutrality by 2060.
Kazakhstan also has a goal of reducing its greenhouse gas emissions to 15 per cent below its 1990 levels by 2030.
Kazakhstan currently generates more than 70 per cent of its electricity from coal, but aims for other sources to supply half its power by 2050.
Forrest said the Kazakhstan Government was well placed to join FFI on the green industrial revolution.
“Kazakhstan is blessed with extraordinary, abundant renewable energy sources and we want to help the government tap into those resources as soon as possible,” he said.
“We know that green hydrogen is a practical and implementable solution that can help revolutionise the way we power our planet, help decarbonise heavy industry and create local jobs.
“This framework agreement sets us on a path to delivering those benefits to the people of Kazakhstan and helping to end a heavy reliance on dirty fossil fuels.”