An ex-PM’s departure could mark a new chapter for Fortescue’s green ambitions. 

Malcolm Turnbull, the former Prime Minister, ended his run as a director of Australian Fortescue Future Industries (AFFI) on January 11. 

This move marks the end of his nearly three-year association with the company, a key player in the nation's shift towards renewable energy.

AFFI, a subsidiary of the iron ore giant Fortescue, has been pivotal in driving the company's transition into the world of clean energy. 

Turnbull's departure follows a series of high-profile exits from Fortescue, including former Woodside CEO Fiona Hick and former Reserve Bank deputy governor Guy Debelle. 

This reshuffling signifies a transformative period for Fortescue as it rebrands its “Future Industries” division to “Fortescue Energy’.

During his tenure, Turnbull's focus was primarily on the Green Hydrogen Organisation, a Geneva-registered association promoting hydrogen production. Despite his exit, he continues to serve as its chairman. 

A Fortescue spokesperson acknowledged Turnbull's substantial contribution to the global green hydrogen conversation, saying; “Mr Turnbull has played an enormous role in ensuring green hydrogen has become increasingly recognised as being critical to the global energy transition”. 

Meanwhile, Fortescue faces crucial decisions regarding its ambitious green hydrogen project at Queensland's Gibson Island. 

The project, which hinges on a 550 MW green hydrogen electrolyser, is currently in negotiations over electricity costs and government support. 

Mark Hutchinson, head of green energy at Fortescue,  has highlighted the importance of securing affordable green power, citing ongoing discussions with government entities and exploring options in Brazil, Namibia, and Morocco.

Hutchinson has reportedly expressed confidence in Fortescue's strategy to achieve “real zero” emissions by 2030 while remaining profitable. 

The company is actively investing in renewable energy infrastructure, including a 100 MW solar farm and significant battery storage, to phase out gas and diesel in its Pilbara mining operations.