So much for Green and Cheap ...
Fortescue drops green hydrogen target
Fri 19 Jul 24,KEY POINTS
- Fortescue is restructuring its energy business, delaying green hydrogen targets and shifting focus to renewable power, resulting in 700 job cuts
- UBS expresses scepticism about green hydrogen's economic viability in transportation, cheap electricity production, and industrial applications
Transportation: "Hydrogen in transport needs at least 3-4 times the solar, wind, hydro and grid than battery EVs.Green hydrogen's use cases dwindle
The investment bank has long been sceptical on green hydrogen's economic use cases in several of the hypothesised demand drivers. The note highlighted several cases where the numbers just did not add up...
Industrials: "Convincing price-taking farmers to prefer more expensive green fertiliser is not easy. In hard to abate industrial heat, we do see a market for green hydrogen...
