CIP heads AUD-5bn renewables hub in Queensland
- Danish fund supervisor Copenhagen Infrastructure Partners (CIP) has consented to acquire the assets forming the AUD-5-billion (USD 3.34 bn/EUR 3.16 bn) Bowen Renewable Energy Hub in Queensland, Australia.
The assets will certainly be bought from neighborhood designers Bowen River Utilities and also Renewable Energy Partners. The massive project will be renamed Capricornia Energy Hub, Samuel Woldu, director of CIP Australia said on Friday.
The giga-scale advancement is intended to consist of 1.4 GW of pumped storage space hydropower facilities, 500 MW of wind turbines, over 1 GW of solar (PV) panels as well as a 200-MW electrolyser for the manufacturing of eco-friendly hydrogen. According to the initial plan, the initial stage of the project will certainly add 750 MW/12,000 MWh of storage capacity by 2028. The 2nd phase of the plan will deliver an added 12,000 MWh of storage space.
CIP plans to companion with government-owned CS Energy, which in August signed a Memorandum of Understanding to take into consideration options for participating in the system such as a power purchase arrangement, equity financing and also project operations.
In Australia, CIP is currently amongst the big market players for renewables. It participates in the up-to-2.2-GW Star of the South wind project offshore Victoria as well as the 5-GW Murchison green hydrogen project in Western Australia.