Technology and energy company Fortescue has teamed up with Belgian offshore installation services company Belgian Jan De Nul to jointly provide shipping and subsea cable laying services to connect North Africa with Europe.
The companies will work together to connect continents of high energy production to continents of high energy consumption for the delivery of green electrons.
The agreement builds on the landmark joint venture deal signed between Fortescue and OCP to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets.
The joint venture includes exploring the potential development of manufacturing facilities and an R&D hub to advance the rapidly growing renewable energy industry in Morocco.
“There is a massive opportunity to send renewable electrons from Morocco and North Africa to Europe to industries and consumers who deserve a better choice than the only one they currently have available – carbon emitting, global warming causing fossil fuels.
“Fortescue believes a lack of cable laying capability is creating a bottleneck in connecting Morocco to Europe, making this pursuit with Jan De Nul one the most outstanding opportunities we have across the world. It will bring substantial benefits to both North Africa and Europe in terms of employment, economic growth and providing citizens with a choice to use fuels made using green energy,” said Andrew Forrest AO, Fortescue founder and Executive Chairman.
“It is clear that the electrification transition is happening worldwide. Direct transport and consumption of green electrons is one of the most efficient ways to help reduce the total energy needs of the world. With our know-how, highly skilled and motivated staff and crew, and our versatile fleet of construction vessels including five of the world’s cutting edge subsea cable laying vessels we are ready to construct the energy transition,” added Jan Pieter De Nul, Jan De Nul Group Executive Chairman.
The OCP Fortescue Joint Venture is subject to customary closing conditions, including regulatory approvals.