Fortescue has approved expanding its green energy capacity in the Pilbara, with a US$680 million investment to develop new green energy infrastructure via the development of the 200MW Pilbara Green Energy Project.
The project is set to deliver additional renewable energy generation beyond its Real Zero by 2030 strategy outlines. The funding earmark is in addition to the company’s already approved US$6.2 billion decarbonisation programme.
The fully integrated, off-grid renewable energy system and large-scale battery storage and firming capability should be completed by 2028, and offer a way to multi-gigawatt expansion beyond 2030.
Officials noted that Fortescue’s previously announced Green Grid is the backbone of its Real Zero Target and, by 2028, will comprise 1.2GW of solar, 600MW of wind, 4-5GWh battery storage and 620km of transmission lines. The independently operated, replicable system has been designed to deliver reliable, firmed power at scale.
“The same capital discipline and project execution capability from Fortescue’s decarbonisation efforts will be applied to the new Pilbara Green Energy Project,” the miner said.
It is currently in discussions with interested parties and will develop the project with key partners, including government and traditional custodians.
“Fortescue is already demonstrating in the Pilbara that heavy industry can operate on a fully integrated renewable grid – eliminating fossil fuels while improving cost, reliability and control. We are now extending this model to new customers, particularly data centres, helping meet one of the fastest growing sources of demand in the world,” said Fortescue Executive Chairman Andrew Forrest.
“This is about replicating our Decarbonisation Green Grid, delivering new green electrons at a scale and speed to market not able to be replicated by fossil fuel. It enables a pathway for new industries to operate fossil fuel free, cheaper and faster than traditional alternatives.”
Source: fortescue.com