HyEnergy Project to boost Australia’s green hydrogen exports
Green hydrogen produced from renewable sources, such as wind and solar energy, looks set to play a significant role in navigating society towards a decarbonised future and meeting the global aim of net zero emissions by 2050.
The HyEnergy Project is a potential ‘Renewable Green Hydrogen Project’ by Province Resources that is located in Western Australia’s Gascoyne Region just south of Carnarvon.
On account of climate commitments, nearly half the globe has already embraced net zero policies. For climate experts, green hydrogen is indispensable to climate neutrality. It seems Australian markets are hungry for hydrogen and were badly on the lookout for something other than fossil fuels to keep the exports alive. Province Resources’ have made a right move in this direction as there is a huge demand for green hydrogen and Australia is trying to be its key exporter.
Province Resources is a gold and nickel exploration company formerly known as Scandivanadium. With the “news” of its green hydrogen project, the stock price of Province Resources leaped 262% that it could be even the top pick of the year.
It is proposed to acquire Ozexco Pty Ltd in the Gascoyne. It is subject to shareholder approval at its general meeting. Ozexco holds seven license applications, hence suitable for developing a renewable green hydrogen project.
Vulcan Resources’ co-founder and CEO Francis Wedin has invested in Province Resources and is signed on an advisor to the company. Vulcan has developed the world’s first and only zero-carbon lithium process and plans to produce battery-grade lithium hydroxide from geothermal brines pumped from wells with a renewable geothermal energy by-product.
The company’s vision is to generate 1 GW of renewable energy in Western Australia using wind and solar and to produce approximately 60,000 tonnes of green hydrogen or up to approximately 300,000 tonnes of green ammonia.
The next 12 to 18 months will see Province Resources commencing feasibility studies for renewables generation and hydrogen production at the HyEnergy Project as well as execute a deal with an independent power producer to develop the clean energy needed. The firm will then initiate discussions with potential offtakers.
World class wind and solar resources of the Gascoyne Region within close proximity to key infrastructure provides potential for the establishment of a Renewable Green Hydrogen Project capable of supplying domestic and international markets. Gascoyne has the highest solar irradiance and is the fourth windiest location in WA. Gascoyne’s climate and wind patterns made renewable energy an attractive and viable option.
The proposed site is not far from Dampier Bunbury Natural Gas Pipeline as well as export infrastructure, which will certainly prove helpful. WA’s geographical proximity to Asia and its longterm presence in these markets is another strategic benefit.
With an area of 2.5 million sq km WA is well placed to develop large scale renewable energy generation sector. WA’s low intensity land use and low population density makes the project area ideal for installation of a commercial scale wind and/or solar farm.
Since Australian government dreams of being a major green hydrogen exporter, the funds for Province’s HyEnergy Project will be taken care of by country’s emergent green hydrogen industry. Funding from Government on both a State and Federal level include:
- Western Australian Renewable Hydrogen Strategy $10m.
- Australian Renewable Energy Agency (ARENA) $70m.
- Australian Government Advancing Hydrogen Fund $300m.
Green hydrogen produced from renewable sources, such as wind and solar energy, looks set to play a significant role in navigating society towards a decarbonized future and meeting the global aim of net-zero emissions by 2050. Launching its Renewable Hydrogen Strategy last year, the government of Western Australia announced its aim to become a “significant producer, exporter and user” of green hydrogen. The strategy said Australia’s zero-carbon green hydrogen exports could reach AU$2.2 billion by 2030.With HyEnergy project, Australia is making a move in this direction