European Energy bags 3.6 GW Oz solar-hydrogen project

• Developer says purchase will certainly speed up the scheme that covers 6000 hectares in the Gladstone region

Danish developer European Energy has acquired a majority risk in a company developing a 3600MW solar and also PtX project in Australia.

European Energy's purchase of Austrom, based in Queensland, will increase the 3.6 GW Pacific Solar Hydrogen Project in the Gladstone region, the developer said.

European Energy will certainly be doing the development work along with managing the grid process for the Pacific Solar Hydrogen Project portfolio.

Austrom has already secured the civil liberties to 4 sustainable websites covering 6000 hectares in closeness to the Gladstone export hub.

The Pacific Solar Hydrogen Project is estimated to be able to create more than 100,000 tonnes of green hydrogen a year.

"It is one of the largest projects that we or any person in the world for that matter have undertaken.

"We do believe that it is feasible and also realistic to understand this project in 2026 not the very least because of the willingness of the regional authorities in Australia to see the opportunities of moving ahead on the green shift as well as become a key merchant of the fuel of tomorrow" said Thorvald Spanggaard, Executive Vice President at European Energy and also Head of Project Development.

Austrade and also Trade and Investment, Queensland (TIQ) stated it was pleased to welcome a major international investment in renewable energy in Queensland.

"Austrade welcomes European Energy's investment in Austrom, as the firm creates the Pacific Solar Hydrogen Project in Queensland.

"European Energy is a welcome new participant right into Queensland's hydrogen future. We wish the business well as they work in the direction of establishing the Pacific Solar Hydrogen Project" said Acting CEO Profession and Investment Queensland, Richard Watson.

Austrom is an Australian business specialising in the procurement as well as development of large-scale eco-friendly projects.

In September 2022, Austrom and also European Energy concurred that European Energy would acquire a majority stake in Austrom.

European Energy said it will certainly be accelerating the formal development and also grid connection procedures for the Pacific Solar Hydrogen Project portfolio in the coming months.