Fortescue raises clean energy spend with $195m German investment

A clean burning gas, hydrogen is hoped to be a low carbon substitute for fuels that emit greenhouse gases, such as the methane Germany has bought from Russia in large volumes in recent years.The blacklisting of Russian fossil fuels has fast-tracked efforts to build a hydrogen ecosystem in western Europe.Fortescue said Wednesday’s investment would be in addition to the $US700 million it said would be FFI’s maximum spend in the year to June 2023.Fortescue originally said that $US700 million would be comprised of $US100 million of capital expenditure and up to $US600 million of operating expenditure.On Wednesday, it said the capital spending portion of FFI’s total spend would now be $US230 million in the year.Fortescue spoke a lot about clean energy between 2019 and 2021 without much granularity or detail on how it would enter the space, beyond a big target to become a major green…

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