Billionaire Miner Forrest Aims to Be a Global Clean Energy Giant
- Fortescue seeking to begin fuel production as soon as 2022
- Scale of energy operations should eventually surpass iron ore
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Billionaire Andrew Forrest broke into the ranks of the world’s top iron ore exporters, now he’s targeting an entry into renewables in as soon as two years under an ambitious plan to produce more energy than giants like Chevron Corp.
Forrest’s Fortescue Metals Group Ltd. will begin green fuel production in 2022 or 2023 and aims to eventually develop 235 gigawatts of clean energy -- equal to about a fifth of the U.S.’s total generation capacity -- utilizing wind and solar and moving into hydrogen and ammonia production, he said in a Bloomberg TV interview.