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Andrew Forrest s $100b Congo power play

Australia’s richest man Andrew Forrest has committed Fortescue to the world’s biggest hydro power project in the Congo, as part of his ambition to diversify the iron ore miner into a global force in green energy and hydrogen .

Unlocking green energy in Africa can impact climate change globally

  According to a new International Energy Agency report, achieving the Paris Agreement’s climate goals requires more low-carbon hydrogen to fuel transport and industry. This emerging demand for hydrogen might unlock one of Africa’s untapped riches, the massive hydropower from the proposed Grand Inga dam (Inga). Reconfiguring the dam’s plan to add hydrogen production could help make the project a reality. It is also an option the Biden administration should consider examining under its new climate finance plan. As the Congo River winds its way through the Democratic Republic of Congo (DRC), it reaches Inga Falls, the site with the world’s largest hydropower potential. The location (which I visited for the World Bank) can produce 40,000 megawatts (MW) of electricity more than the world’s two biggest hydropower plants, Three Gorges and Itaipu, combined. To date, however, only two smaller dams have been built there, with a total installed capacity of just 1,800 MW. 

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