Investments by project and build status
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Each bar is ITK’s estimate of a project’s capital at CSIRO GenCost 2025-26 unit costs plus 15%, not Fortescue’s reported spend. Build status is from Fortescue’s FY26 annual report and quarterly reports. Transmission (A$1.07bn for 660 km) is split by length between built and under construction.
Fortescue’s own figures are in the box: the US$6.2bn programme, US$848m spent in FY26 and FY27 guidance of US$0.9–1.3bn. The programme also covers electric equipment and other items that this grid estimate does not.
ITK models 600 MW of wind; Fortescue now states 900 MW, of which 133 MW (Nullagine) is under construction.
Sources: Fortescue FY26 annual report and quarterly reports; CSIRO GenCost 2025-26; ITK estimates.