Pilot Energy Limited (ASX:PGY), an Australian junior oil and gas company that aims to become a clean energy developer, will start a feasibility study for its Mid West Wind and Solar Project in Western Australia.
The company aims to use its assets to cornerstone the development of projects potentially including offshore and onshore wind, solar, green and blue hydrogen, carbon capture and storage (CCS) and other infrastructure in the Mid West and South West regions of Western Australia.
The Mid West Wind and Solar Project feasibility study is expected to cost about AUD 900,000 (USD 662,000/EUR 564,000) and Pilot has engaged three consults to conduct it over a period of six months.
The study will look into the integration of offshore and onshore wind and solar projects with existing assets and infrastructure to provide competitive clean energy, Pilot said on Thursday. It will evaluate the renewable energy resources in the Mid West region and their commercialisation via the production and sale of hydrogen, the company explained.
The consultants engaged are Genesis, part of France’s Technip Energies NV (EPA:TE), which will project manage the feasibility study, offshore wind farm development consultant Lautec AU Pty Ltd and renewable energy infrastructure developer Green Fuel Development Pty Ltd (GFD).
Pilot has secured an option to continue with a solar scheme of potentially at least 150 MW currently progressed by GFD.
Lautec, together with C2Wind ApS, will also help Pilot with an offshore wind resource baseline survey that is expected to employ a fixed LiDAR system.
The news follows shareholder approval earlier in August of Pilot's AUD-8 million equity capital raise.
(AUD 1 = USD 0.735/EUR 0.626)
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