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Highlights

  • Fortescue signed agreements with BYD, LONGi, XCMG, and Envision Energy to accelerate industrial decarbonisation.
  • The company has completed the acquisition of Spanish renewable technology firm Nabrawind.
  • Fortescue plans large-scale deployment of battery electric mining trucks through partnerships with XCMG and Liebherr.

Fortescue Ltd (ASX:FMG) announced significant progress on its decarbonisation strategy during Climate Week NYC and the United Nations General Assembly. Executive Chairman Dr Andrew Forrest AO outlined new global partnerships and acquisitions aimed at supporting Fortescue’s Real Zero 2030 target and expanding the company’s role in global energy transition efforts.

Global Alliances for Decarbonisation

Fortescue confirmed new agreements with global leaders in renewable energy and green technology, including BYD, LONGi, XCMG, and Envision Energy. These partnerships combine expertise from multiple regions, linking operational capabilities in the Pilbara with research in Australia, the United States, and Europe, and large-scale manufacturing in China and the US.

The company emphasised that these collaborations will help electrify its Pilbara mining operations and catalyse decarbonisation across global industries.

Battery Electric Mining Fleet

As part of its fleet decarbonisation plan, Fortescue signed an agreement with XCMG, under which the manufacturer is expected to supply up to half of Fortescue’s future fleet of 300 to 400 zero-emissions haul trucks between 2028 and 2030. This expands on a prior contract with XCMG for ancillary mining equipment signed in 2024.

Meanwhile, Liebherr will provide the other half of the fleet, as well as electric excavators, under an amended agreement. Production of Liebherr’s T 264 trucks has already commenced in Virginia, United States. Fortescue Zero, the company’s technology hub, will continue to optimise the power systems for these trucks, adapting them to Pilbara conditions.

Acquisition of Nabrawind

Fortescue has finalised the acquisition of Spanish renewable technology company Nabrawind, consolidating its earlier minority stake into full ownership. Nabrawind specialises in self-lifting tower designs for wind turbines, enabling greater installation heights, which capture stronger winds and increase generation efficiency.

This acquisition will support Fortescue’s inaugural wind project in the Pilbara, which will also utilise Envision Energy’s advanced EN182-7.8MW turbines. These turbines are designed to operate in low-wind conditions and withstand cyclonic weather, offering improved cost efficiency and performance.

Innovation Through Fortescue Zero

Fortescue Zero remains central to the company’s decarbonisation strategy. The division integrates global R&D, including collaborations with CSIRO in Australia, research hubs in Colorado and Oxford, and partnerships with leading technology providers.

FMG shares were trading 0.052% lower at AUD 19.13 per share at the time of writing on 26 September 2025.