Australia’s Fortescue has cancelled a green hydrogen project planned for Prince George, British Columbia.
The company had announced the CAD 2bn project in September 2023.
Fortescue’s North American CEO Andrew Vesey wrote in a letter to British Columbia’s environmental assessment office giving notice of the withdrawal of its application.
“Fortescue recently completed an evaluation of our global project portfolio, with an aim to prioritize the projects in locations with favourable green energy policies and affordable and reliable renewable energy,” Vesey wrote. “We have focused our energy project portfolio to include a pipeline of commercially viable projects to carry us forward and meet future demand, while acting in the best interests of our shareholders. With that, we have decided to put on hold our Project Coyote in Prince George until we are able to secure more favorable power pricing and availability.”
