CIP to embark on USD-20bn green hydrogen project in Australia

May 24, 2023 12:20 PM ET
  • Copenhagen Infrastructure Partners (CIP) has unveiled plans to build an enormous green hydrogen manufacturing complex in South Australia's Eyre Peninsula underpinned by roughly 14 GW of solar and wind generation.
CIP to embark on USD-20bn green hydrogen project in Australia

The Danish renewable resource infrastructure fund intends to put some AUD 30 billion (USD 20bn/EUR 18.5 bn) into the big project called Evergreen, as commonly reported by local media, quoting CIP Australia's Vice President Matthew Stuchbery.

Under the strategy, 10 GW of onshore wind farms with about 1,600 turbines and also 4 GW of solar photovoltaic or pv (PV) parks will certainly produce electrical energy to power 7 GW of electrolysers. The proposed capacity is planned to be set up within an area in between the Spencer Gulf as well as the Great Australian Bight, as well as with the Gawler Ranges to the north.

The area near Whyalla city will be a focus location for the hydrogen component of the project, in which CIP will compete for space with other significant players like Fortescue and TotalEnergies. The Danish company will purportedly seek to authorize off-take agreements for the hydrogen output. It expects to take a last financial investment choice in 2028.

The enthusiastic strategy is part of the firm's 30-GW project development pipe in Australia and also will sustain the nation's method to be an international hydrogen leader by 2030. Earlier in May, the nationwide federal government announced AUD 2 billion in funding for the development of a new plan that will certainly back 2 to 3 flagship projects which can deliver up to 1 GW of green hydrogen electrolyser capacity.

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