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Danish fund backs 5 GW Australian renewable hydrogen project

From pv magazine Australia

For anyone who thinks the 26 GW Asian Renewable Energy Hub plan to export hydrogen fuel throughout Southeast Asia is overkill, think again. Hydrogen Renewables Australia (HRA) is already planning the 5 GW Murchison Renewable Hydrogen Project (MRHP), near Kalbarri in Western Australia. And the early-stage initiative is now partnering with global fund manager Copenhagen Infrastructure Partners (CIP).

The MRHP is located on Murchison House Station. The large-scale hybrid wind and solar system will energize desalinated wate and produce hydrogen fuel for export to markets such as Japan and South Korea. 

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The project, which already has Siemens on board as its technology partner (to utilize its Silyzer electrolyzer), is another step closer to reality, thanks to the new partnership with the Danish investment firm. CIP specializes in renewable energy infrastructure and currently has more than €12 billion ($14.2 billion) under management. It is also a key supporter of the potential massive Star of the South offshore wind project in the Bass Strait. 

HRA Executive Chairman Terry Kallis said that the partnership with CIP will allow MRHP “to proceed with its planned development to assess the feasibility of producing competitive hydrogen exports for the Asian markets.” Michael Hannibal, a partner at CIP, added that the MRHP project “represents the best combined wind and solar resource in Australia and the project complements our existing activities in Australia.”

Kallis told Australian Financial Review that CIP is “basically equity funding the project as we go forward subject to meeting certain-feasibility criteria and milestones … They are happy to take a certain level of risk in the early stages and be there effectively cradle to grave, which is a great partner to have.” 

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Source: pv magazine