Fortescue launches new green investment platform: Australian mining company Fortescue has launched a New York-based green energy accelerator platform Fortescue Capital which is tasked with boosting the company’s returns for shareholders, the company said in an ASX disclosure (pdf) on Thursday. The platform is an “integral next step in Fortescue’s commitment to deliver green energy projects and decarbonisation investments,” the disclosure noted, without clarifying how the platform aims to deliver higher returns on the company’s green projects. Fortescue Capital will also work on bringing additional equity investors on board.

Fortescue has projects in the region: The Sovereign Fund of Egypt (SFE) signed an MoU with Fortescue to begin conducting feasibility studies on its planned USD 10 bn 9.2 GW green hydrogen project last year. It was also among the investors in the series C financing round for Oman’s Electric Hydrogen, raising USD 380 mn.

Tags: