Andrew Forrest to consider investing in coal-fired power stations in West Virginia

WA mining billionaire Andrew Forrest is considering investing in US power stations and converting them to run on renewable energy as part of his green hydrogen ambition.

Speaking to The Australian after a visit to the US, where he met with President Joe Biden, Mr Forrest suggested 22 of 26 coal-fired power stations in West Virginia could be converted to renewable energy.

West Virginia was the second-largest coal producer in the nation in 2020, according to the US Energy Information Administration. accounting for 13 per cent of the US’ total coal production.

“All these coal-fired power stations are going to go from worthless scrap metal with huge environmental liabilities, with negative value,” Mr Forrest told The Australian.

“We won’t be able to walk in and grab them . . . but we are there to invest. We are very happy to do this.”

Fortescue Metals Group has committed to provide 10 per cent of its earnings to its renewable energy arm Fortescue Future Industries — equivalent to about $1 billion in the most recent full year — as Mr Forrest seeks to transition the world away from fossil fuels and into green hydrogen.

Mr Forrest was invited to the White House to present his vision for green hydrogen power to Mr Biden and some of his top aides earlier this month.

FFI plans to produce 15 million tonnes of green hydrogen each year by 2030, increasing to 50mt annually in the following decade.