Fortescue (FMG) maps out green energy future
FMG +5.26%: out with their first major move in the push to become carbon neutral by 2030. The Global Green Energy Manufacturing centre will be built in Gladstone, Queensland to manufacture wind turbines, solar cells and electrolysers among other green hydrogen equipment. The first stage will establish Australia’s first multi-gigawatt electrolyser factory, capable of producing 2 gigawatts per annum which the company says is more than double the current production globally. They expect to spend $US83m on the first stage with planned investment up to $US650m. If nothing else, the market enjoyed getting some numbers put towards the green energy investment Fortescue has been trumpeting recently. They expect first production by early 2023.
