18 February 2021 Fortescue Metals is set to funnel at least $400 million into renewable energy technologies such as wind, solar and green hydrogen, as it ramps up its push to be one of the world’s biggest clean energy companies. That would come on top of around $100 million of investment this financial year. If the iron ore price remains high, the $400 million figure could be several hundred million dollars higher by the end of the financial year. The iron ore miner unveiled a massive half year profit on Thursday of more than $4 billion, thanks to sky high iron ore prices. It’s been a bumper year for all Australian iron or miners, thanks rocketing demand from China and little competition from the other main iron ore producing country, Brazil. Fellow iron ore producers Rio Tinto and BHP have announced similarly massive profits this month.