The iron ore magnate Andrew Forrest’s Fortescue company has cancelled two major green hydrogen projects, laying some of the blame on the Trump administration’s shift away from renewable energy.
Fortescue’s decision to cancel the two ventures in Queensland and Arizona are the latest in a run of canned hydrogen projects in Australia and elsewhere that will raise further questions about the future of the clean fuel.
Gus Pichot, the chief executive of growth and energy at Fortescue, said a “shift in policy priorities away from green energy” in the US had “changed the situation” for its reported US$550m green hydrogen production plans in Arizona.
“The lack of certainty and a step back in green ambition has stopped the emerging green energy markets making it hard for previously feasible projects to proceed,” he said.
At the same time, Fortescue said it was cancelling its Gladstone PEM50 project in Queensland that had been…
