Aug 8 (Reuters) - Australia's Fortescue (FMG.AX), said on Friday it had secured a yuan-denominated loan worth 14.2 billion Chinese yuan ($1.98 billion) to ramp up its decarbonisation plans, weeks after scrapping its U.S. and Australian green hydrogen projects.
The loan agreement comes as the world's fourth-largest iron ore miner reshapes its clean energy portfolio as the United States scales back its priorities on green energy under the Trump administration.
Fortescue announced plans, in July to wind up its green hydrogen projects in Arizona, U.S., and Queensland in Australia, a week after its billionaire founder and chairman, Andrew Forrest, visited China with Australian Prime Minister Anthony Albanese.
On Friday, Forrest, popularly known as Twiggy, lauded China's industrial scale, innovation, and commitment to investing in green technology, while underscoring his deepening ties with Chinese institutions.
"As the United States steps back from investing in what will be the world's greatest industry, China and Fortescue are advancing the green technology needed to lead the global green industrial revolution," Forrest said in a statement...more
https://www.reuters.com/sustainability/boards-policy-regulation/australias-fortescue-secures-yuan-loan-worth-2-billion-green-energy-plans-2025-08-07/
Won't be too long before Donald J. Dump scares another big company away from Hydrogen and the haters will jump up and down with joy. It might even be funny if it wasn't so GD sad.
Good thing China actually wants a green future and is willing to work for it. Isn't it. Only fools would sign off on a new Hydrogen project in the US right now.
Industry 5.0 Rising in Northern China: The World's Largest Green Hydrogen-Ammonia Project
= new reply since forum marked as read