- Press Releases
June 24 (Renewables Now) - The Queensland government will provide AUD 15 million (USD 10.3m/EUR 9.9m) to publicly owned energy provider Stanwell to help advance a large-scale green hydrogen project in Gladstone.
The funding, fast-tracked through the AUD-2-billion Queensland Renewable Energy and Hydrogen Jobs Fund, will support the front end engineering and design (FEED) study for the CQ-H2 project, which envisages a renewable hydrogen plant at Aldoga near Gladstone and a liquefaction and shipping facility at the Port of Gladstone. The 12-month FEED study will enable a final investment decision in late 2023. The scheme could produce 800 tonnes per day of hydrogen by the early 2030s.
Stanwell is partnering on the development of the project with Japanese companies Iwatani Corp (TYO:8088), Kawasaki Heavy Industries (TYO:7012), Kansai Electric Power Co (TYO:9503) and Marubeni Corp (TYO:8002), as well as Australian energy infrastructure company APA Group (ASX:APA). The aim is to create a renewable hydrogen supply chain from Central Queensland to Japan, with opportunities to supply local industrial customers also being explored.
The funding announcement on Friday follows a trade mission to Japan last week by Stanwell and Deputy Premier Steven Miles.
“The State Government is sending a very clear message, especially to our partners in Japan, that Queensland is the ideal international supplier for reliable, affordable and clean energy,” Miles said.
(AUD 1 = USD 0.690/EUR 0.657)