Fortescue chairman, Andrew Forrest
Fortescue pushes back green hydrogen targets
Leading developer deprioritises three projects as it restructures to create value for shareholders
Australian metals company and leading hydrogen project developer Fortescue has deprioritised a number of green hydrogen production projects and has said it is unlikely to reach its target to produce 15mt/yr of the fuel by 2030. The firm will still aim to reach the production goal, but at a later, as-yet unspecified, date. “We must continually evolve to ensure we remain lean and impactful,” said Fortescue executive chairman Andrew Forrest in a statement. The firm has deprioritised three green hydrogen projects in its portfolio: the 140,000t/yr Coyote project in British Columbia, Canada; the 40,000t/yr Centralia project in the US Pacific Northwest; and the Grand Inga project in the Democratic
Also in this section
14 February 2025
Leading European hydrogen investor commits $50m to green fuels developer amid continued uncertainty over US renewables policy
14 February 2025
Focus on facilities in Spain, Egypt and the UK as Mideast Gulf country aims to scale up output to supply markets in Europe and Asia
12 February 2025
Tax incentives attract multiple proposals for hydrogen hubs as government launches new initiative to speed up transition
11 February 2025
Multiple production routes and regional policy differences hamper nascent sector’s ability to attract investment
