Fortescue Future Industries and Woodside have been selected as the two finalists in the race to develop what could be one of the world’s largest green hydrogen projects – a 600 MW facility in New Zealand.
From pv magazine Australia
After 80 companies expressed in the project last year, the shortlist has been whittled down to two, with billionaire Andrew “Twiggy” Forrest’s Fortescue Future Industries (FFI) facing off against gas giant Woodside. The pair are now entering final negotiations to develop the reportedly AUD 4.5 billion ($3.1 billion) project.
Southern Green Hydrogen, which proposed the megaproject, is a joint venture between New Zealand power providers Meridian Energy and Contact Energy. It was set up in June 2021 to explore the opportunity of producing green hydrogen on New Zealand’s southernmost tip, following the announcement that Rio Tinto would close its Tiwai Point aluminum smelter, which is primarily powered by a Meridian hydroelectric plant.
The vision is to build a 600 MW facility which would use the power from Meridian’s Manapouri hydro scheme to energise hydrogen electrolysers, producing green hydrogen or green ammonia for export. According to Meridian Energy CEO Neal Barclay, the proposals received from both FFI and Woodside made it clear a Southland hydrogen facility would be both technically feasible and commercially sound, and both companies would be capable of delivering it. FFI and Woodside have now been asked to provide more detailed proposals to Southern Green Hydrogen by the end of August, with the final selection of lead developer to be announced soon after.
Rio Tinto has since wavered on its decision to close the Tiwai Point smelter, but the New Zealand media have quoted Meridian’s Barclay as saying that the company does not plan to continue Rio Tinto’s current energy contract, even if it wanted to keep its smelter operating. Likewise, spokespeople for Meridian have said the Southern Green Hydrogen project is not contingent on the smelter closing.
Hokonui representative and Ngāi Tahu lead for the green energy programme, Terry Nicholas, who has been closely involved with the project, believes the facility and its wider infrastructure could cost around NZD 5 billion ($3.2 billion). According to him, four potential sites for the facility have been identified.
Like Australia, New Zealand is keen to secure some of the green hydrogen market. Its government and private sector have committed around NZD 200 billion to support the development of the burgeoning industry.
The allure of a project with an already secured and established renewable energy input is no doubt vast – especially for FFI which is hoping to live up to the hype its created around itself, targeting 15 million tonnes of green hydrogen production by 2030.
The allure also holds true for Woodside, which is facing sharp and renewed criticism over its Scarborough gas project, a sustained focus environmental group Greenpeace. Woodside is looking to stay relevant through its move into hydrogen, but is notably pursuing both blue (hydrogen made from fossil gas) as well as some green, renewable projects.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
Australian companies vying for $3.1 billion green hydrogen project in New Zealand – pv magazine International & Latest News Update
Australian companies vying for $3.1 billion green hydrogen project in New Zealand – pv magazine International & More Live News
All this news that I have made and shared for you people, you will like it very much and in it we keep bringing topics for you people like every time so that you keep getting news information like trending topics and you It is our goal to be able to get
all kinds of news without going through us so that we can reach you the latest and best news for free so that you can move ahead further by getting the information of that news together with you. Later on, we will continue
to give information about more today world news update types of latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people.
Australian companies vying for $3.1 billion green hydrogen project in New Zealand – pv magazine International & More News Today
All this news that I have brought up to you or will be the most different and best news that you people are not going to get anywhere, along with the information Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this news, you can get other types of news along with your country and city. You will be able to get information related to, as well as you will be able to get information about what is going on around you through us for free
so that you can make yourself a knowledgeable by getting complete information about your country and state and information about news. Whatever is being given through us, I have tried to bring it to you through other websites, which you may like
very much and if you like all this news, then definitely around you. Along with the people of India, keep sharing such news necessary to your loved ones, let all the news influence them and they can move forward two steps further.
Credit Goes To News Website – This Original Content Owner News Website . This Is Not My Content So If You Want To Read Original Content You Can Follow Below Links