InvestSMART

Fortescue Ltd (ASX:FMG)

ALERT: Price-sensitive ASX Announcement for FMG
Current share price for FMG : $18.570 -1.96 (-9.55%)+
Announcement
Release
10 Apr 2026 8:36AM
Price at Release
$20.530
Full Release
download
Summary
Fortescue Ltd is accelerating the delivery of a world-first large-scale heavy industry green grid, aimed at eliminating fossil fuels from its operations. The company plans to complete a 1.2GW solar, 600MW wind, and 4-5GWh battery storage system in the Pilbara by 2028, well ahead of its 2030 Real Zero plans. This green grid will power all of Fortescue's operations round-the-clock, significantly reducing energy costs and dependency on imported diesel. The project is expected to save US$100 million in fossil fuel costs by next year and further reduce C1 unit costs by US$2–4 per wet metric tonne. Fortescue aims to expand its green energy system to approximately 2GW of power generation capacity, potentially delivering firmed energy at an unprecedented speed and cost-efficiency. The company is also exploring licensing and service provision of these systems to other major energy users, thereby demonstrating the economic and scalable feasibility of industrial green grids.
Key Points
  • Fortescue is developing a large-scale industrial green grid.
  • The project aims to eliminate fossil fuel dependency by 2028.
  • 1.2GW solar and 600MW wind energy systems planned.
  • Expected to save US$100 million in fossil fuel costs by next year.
  • Aims to reduce C1 unit costs by US$2–4/wet metric tonne.
  • Technology could be licensed or provided as a service to others.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.