Forrest’s Fortescue Begins $750 Million Clean Energy Shift
- Initial three investments include projects in US and Australia
- Large-scale investment to follow modest moves: Energy CEO
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Billionaire Andrew Forrest’s Fortescue Metals Group Ltd. approved $750 million of investments in an initial slate of three clean energy projects, taking a modest first step to expand beyond iron ore and target the green transition.
Fortescue will develop a $550 million electrolyzer and hydrogen facility in Arizona, a second project targeting the fuel in Australia’s Queensland state and a green iron plant to deliver zero-emissions steelmaking materials at the producer’s Christmas Creek mine in Western Australia.