Australia's Fortescue Metals Group, the world's fourth-largest iron ore miner, has set an ambitious plan to become carbon neutral by 2030, bringing forward the target by 10 years as it aims to start producing green hydrogen as soon as 2023.
Australia's Fortescue Metals Group, the world's fourth-largest iron ore miner, has set an ambitious plan to become carbon neutral by 2030, bringing forward the target by 10 years as it aims to start producing green hydrogen as soon as 2023. Fortescue Chairman Andrew Forrest predicted the world's conversion to green energy and green products would occur "almost violently" compared to most forecasts, which assumed hydrogen produced from renewable energy would only become commercially viable in the 2030s.
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Andrew Forrest says he is willing to build a gas and hydrogen fuelled power station at Port Kembla to supply Sydney and NSW industries and households with affordable, green energy, and will start work as soon as he gets approvals from the Morrison and state governments.
Dr Forrest is willing to fund the $1 billion power station from his own pocket through his privately owned Squadron Energy and said he was in talks with both governments about providing a non-coal solution to the state’s energy woes.
Fortescue Metals Group chairman Andrew Forrest.
David Mariuz
But Dr Forrest said the energy market operator was urging Squadron to reduce the power station’s capacity in the interests of diversity of supply, though it was the only green hydrogen power station proposed.
Australia's Fortescue Metals Group, the world's fourth-largest iron ore miner, has set an ambitious plan to become carbon neutral by 2030, bringing forward the target by 10 years as it aims to start producing green hydrogen as soon as 2023.
Australia s Fortescue eyes Brazil plant amid green hydrogen push Reuters 15/03/2021 By Gram Slattery
By Gram Slattery
RIO DE JANEIRO (Reuters) - Fortescue Metals Group Ltd is looking to build a green hydrogen plant in Brazil, executives told Reuters on Monday, as the Australian miner acts on recently announced plans to go carbon neutral by 2030.
Fortescue Future Industries (FFI), a unit of the company, has signed a memorandum of understanding (MoU) with Porto do Açu, a major Brazilian seaport and industrial hub, to study the feasibility of installing a 300-megawatt green hydrogen plant onsite. The preliminary agreement, signed in late February, has not been previously disclosed.