Australia hopes to export hydrogen
In Australia, European Energy is acquiring a majority stake in Austrom, a company based in Queensland.
| Sectors | Solar Energy, Hydrogen Energy, Photovoltaic, Green Hydrogen |
|---|---|
| Themes | Investments & Transactions, Corporate Investment |
| Companies | European Energy |
| Countries | Australia |
In Australia, European Energy is acquiring a majority stake in Austrom, a company based in Queensland.
New opportunities in Australia
In Australia, Austrom has secured the rights to four sites covering 6,000 hectares in the vicinity of the Gladstone export hub. European Energy will be responsible for the development work as well as the management of the networking process for the Pacific Solar Hydrogen project portfolio. Catriona Mcleod, European Energy’s Country Manager in Australia, says:
“I believe that Australia’s vast energy resources are not limited to fossil fuels but can go far beyond. Becoming a hub for renewable energy, renewable hydrogen and fuels is the next logical step for our country. European Energy is currently advancing wind and solar opportunities across the NEM, and as one of the pioneers in renewable fuels and hydrogen, I believe we are very well positioned to accelerate the speed at which these projects can be realized.”
The Pacific Solar Hydrogen project is capable of producing over 100,000 tons of renewable hydrogen per year. It will use electricity that could power 1.5 million homes. In addition, this volume of renewable electricity saves over six million tons of CO2 emissions.
A regional project
Thorvald Spanggaard, Executive Vice President of European Energy and responsible for the development of the project, says:
“This is one of the biggest projects we’ve undertaken, or anyone else in the world, for that matter. We believe it is possible and realistic to deliver this project in 2026, particularly because of the willingness of Australian local authorities to see the opportunities to move forward with the green transition and become a key exporter of tomorrow’s fuel.”
Austrade and Trade and Investment Queensland (TIQ) are excited to welcome European Energy. European Energy will support the renewable energy sector in Queensland, Australia.
The Pacific Solar Hydrogeng project aims to expand Queensland’s renewable energy portfolio and create new jobs. Austrom specializes in the procurement and development of large-scale renewable projects. The company aims to develop 3,600MW
