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Fortescue to Invest $680 Million to Develop Western Australia Green Energy Project

-- Fortescue's (ASX:FMG) board approved an investment of $680 million to develop new green energy infrastructure in the Pilbara region in Western Australia as part of a broader $6.2 billion decarbonization program, according to a Friday Australian bourse filing.

The company will develop the 200-megawatt (MW) Pilbara Green Energy Project, to be completed by 2028, with a pathway to multi-gigawatt expansion beyond 2030, the filing said.

By 2028, Fortescue's previously announced green grid will comprise 1.2 gigawatts of solar energy, 600 MW of wind energy, 4 gigawatt-hours to 5 gigawatt-hours of battery storage, and 620 kilometers of transmission lines, per the filing.

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