Australian company Fortescue will invest $8.4 billion and create more than 15,000 direct jobs in Argentina to produce green hydrogen, the president of the South American country Alberto Fernández announced within the framework of the COP26 world summit in Glasgow.

The project will be developed in the Río Negro region, which is expected to become a global green hydrogen export pole by 2030, with a production capacity of 2.2 million tonnes per year, Kallanish notes.

"It is a great opportunity for Argentina, which needs companies like Fortescue, that invest and generate work,” Fernández comments. “Green hydrogen will position the country at the forefront of the ecological transition and in a short time it will become one of the world's largest suppliers."

Fortescue president Andrew Forrest pointed out that his company is ready to invest in Argentina so that the country can turn to renewable energy and become a global hydrogen exporter leader.

The pilot phase of the Sierra Grande project will be between 2022-2024 with a planned production of close to 35,000 t of green hydrogen per year. After this period and until 2028, Fortescue estimates an output of nearly 215,000 t / y.