Emerging green hydrogen powerhouse, Port Anthony Renewables and Singapore’s global gasification technology integrator CAC-H2 have formed a multi-million dollar joint venture to capitalise on the growing global demand for green energy.
The AUS$20 million plus agreement will see CAC-H2 build and commission a waste woody biomass gasification system to produce carbon negative green hydrogen and ammonia for both domestic use and export internationally. Under the deal, a special purpose vehicle (SPV) has been formed called ‘Hydrogen Plus’. Under the arrangement PAR will be one of the first in Australia to produce a commercial amount of green hydrogen, represent-ing a significant competitive advantage for the company.
Port Anthony Renewables Ltd has secured a 30% equity stake in the SPV. The initial target is to produce 3 tpd of green hydrogen for domestic distribution, and to expand the plant’s capacity to be aligned with domestic demand. The joint venture also plans to build out a large scale green ammonia production plant on the Port for export to Asia. Ammonia production capacity is expected to be a minimum of 30 000 tpy.
Benjamin Anthony, Managing Director of Port Anthony Renewables commented: “This joint venture with CAC-H2 brings proven established technology replicated from its previous global projects. Our goal for the Port Anthony Renewables Hub is to include every aspect of green hydrogen production, storage and distribution, and a biomass project such as this represents a low CAPEX, and a shorter approvals pathway.
“It will also allow the earlier implementation of supporting hydrogen separation, storage, and distribution networks – and that will assist those other technologies which require a longer gestation period.”
Glenn Davies, Group CEO of CAC-H2 commented “We are absolutely thrilled to be partnering with Port Anthony Renewables to build out this world-class Green Hydrogen Hub in Victoria. We are committed to supporting Australia’s energy security strategy, and transition towards renewable energy to reduce emissions and reliance on fossil fuel-derived energy.”
“We want to give the local government and private enterprise the confidence to develop Victoria’s hydrogen ecosystem by offering a carbon-negative green hydrogen reliable supply into the domestic market. Equally, we have immediate export off-take interest for over 100 000 tpy of green ammonia which we intend to scale quickly,” Mr Davies added.
Massive demand for renewable hydrogen
Major economies around the world are rapidly shifting to renewable energy sources as they strive to meet their zero emissions targets.
The growing demand for hydrogen in particular is evident with global oil majors like BP and Woodside announcing their hydrogen aspirations.
Significant export opportunity for green ammonia
Japan’s Green Growth Strategy released in December 2020 set the pathway for Japan to test co-firing ammonia in coal power plants in 2021 and increase its use from 2030 to meet its 20% blending target. If Japan mixed 20% ammonia into all its coal power plants, it would need up to 20 million tpy of ammonia.
The Australian Renewable Energy Agency estimates global demand for hydrogen exported from Australia could be over 3 million tpy by 2040, which could be worth up to AUS$10 billion annually to the economy by that time.
This makes it a major focus for Australia, with the CSIRO releasing a National Hydrogen Roadmap and the Australian government putting in place its National Hydrogen Strategy.
Read the article online at: https://www.energyglobal.com/other-renewables/11102021/port-anthony-renewables-signs-jv-for-green-energy-hub/