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