Hydropower from Africa for Europe

The Australian billionaire Andrew Forrest wants to build dams in the Congo for 80 billion dollars. Europe should also benefit from the energy. But the project is controversial.

Two power plants are already supplying energy in the Congo.

Dhe richest Australian is serious about his move to green energy: Andrew Forrest, founder of the ore company Fortescue Metals Group (FMG) in Perth, wants to build mega-dams in the Democratic Republic of the Congo. From there, energy should also flow to Europe. Forrest had used the Corona period to visit 47 developing countries in search of “green” energy projects. In Africa, he is also pursuing plans in Ethiopia and Kenya, so that the investment value on the continent should reach around 100 billion dollars, Forrest said.

The multi-billionaire plans to create a second pillar alongside his ore company with Fortescue Future Industries. In times of climate change, he sees the future in environmentally friendly energy, especially in hydrogen. His goal is to build up an output of 235 gigawatts of renewable energy – with this, FMG would surpass today’s gas and oil giant like Chevron, Forrest explained at the general meeting in autumn (FAZ of November 12). For comparison: the target value is a good four times higher than the capacity in Australia’s national electricity market. Forrest, who is also one of the great cattle breeders on the fifth continent, spoke of an expected “stampede”, an onslaught on renewable energies in the next few years, for which his company wanted to prepare in time. Over the next three years he plans to invest around one billion Australian dollars (636 million euros) in research and development in the energy sector.