European Energy has announced in the offices of Trade Investment Queensland that it has acquired a majority stake in Austrom, a company located in Queensland, Australia, with the intention of accelerating the 3600 MW Pacific Solar Hydrogen Project in the Gladstone region.
“I believe the vast energy resources of Australia are not limited to fossil fuels but can reach far beyond that. Being a hub for renewable energy production, green hydrogen, and e-fuels is the logical next step for our country,” said Catriona Mcleod, Country Manager for European Energy in Australia.
“European Energy is now advancing wind and solar opportunities across the NEM, and as one of the frontrunners in e-fuels and green hydrogen I believe we are very well-suited to accelerate the speed in which these projects can be realised.”
Pacific Solar Hydrogen Project
European Energy will be doing the development work as well as managing the grid process for the Pacific Solar Hydrogen Project portfolio. Austrom secured the rights to four renewable sites covering 6000 ha. in proximity to the Gladstone export hub.
The Pacific Solar Hydrogen Project is estimated to be able to produce well over 100 000 tpy of green hydrogen, using electricity which could power 1.5 million households or have one electric car drive 26 billion km. This volume of renewable electricity saves more than 6 million t of CO2 emissions, which is equivalent to a having forest with 100 million trees.
“It is one of the biggest projects that we or anyone in the world for that matter have undertaken. We do believe that is feasible and realistic to realise this project in 2026 not least because of the willingness of the local authorities in Australia to see the possibilities of moving ahead on the green transition and become a key exporter of the fuel of tomorrow,” said Thorvald Spanggaard, Executive Vice President in European Energy and Head of Project Development.
Austrade and Trade and Investment, Queensland (TIQ) state that they are pleased to welcome a major international investment in renewable energy in Queensland.
“Austrade welcomes European Energy’s investment in Austrom, as the company develops the Pacific Solar Hydrogen Project in Queensland. The project aims to both support new clean energy jobs and further grow Queensland’s outstanding renewable energy portfolio.”
Trade and Investment Queensland state that they are pleased to have supported both Austrom Hydrogen and European Energy through facilitating connections with industry and government which assisted in the completion of the agreement reached.
“European Energy is a welcome new entrant into Queensland’s hydrogen future. We wish the companies well as they work towards developing the Pacific Solar Hydrogen Project,” said Acting CEO Trade and Investment Queensland, Richard Watson.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
The Winter 2022 issue of Energy Global hosts an array of technical articles focusing on wind, solar, energy storage, geothermal, and more. This issue also features a regional report on the Australian renewables sector.
Read the article online at: https://www.energyglobal.com/electric-hybrid/19122022/european-energy-takes-major-step-into-3600-mw-australian-pacific-solar-hydrogen-project/
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