The Fin
From evangelist to pragmatist: Andrew Forrest’s green hydrogen pivot
Aug 1, 2024
Andrew Forrest, founder of Fortescue Metals Group and a major player in the green hydrogen movement, shares insights into his shifting vision on green hydrogen amid market challenges. Former chief scientist Alan Finkel discusses the uncertainties surrounding hydrogen as an energy storage solution. They tackle the implications of Fortescue’s job cuts and slowed initiatives, questioning Australia's ambitious hydrogen goals. The conversation highlights the complexities of transitioning to sustainable energy and the hurdles faced in balancing visionary goals with practical realities.
24:11
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Andrew Forrest's shift from ambitious green hydrogen targets to a more pragmatic approach signifies potential challenges for Australia's energy transition plans.
- The podcast reveals concerns about hydrogen's efficiency compared to batteries, questioning its viability as a mainstream energy solution in the near future.
Deep dives
Andrew Forrest Scales Back Hydrogen Ambitions
Andrew Forrest, once a prominent advocate for hydrogen, has significantly reduced his target of producing 15 million tonnes of green hydrogen by 2030. This announcement led to the layoff of 700 staff at Fortescue, indicating a momentous restructuring of the company's plans. Forrest acknowledged that the focus of governments worldwide is now shifting towards reducing electricity prices instead of promoting hydrogen production. Despite this, he insists that Fortescue will continue with three ongoing hydrogen projects, asserting that the ultimate goal remains, albeit delayed.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
