Climate Impact Corporation (CIC) has set its sights on the development of Australia’s largest green hydrogen projects in South Australia and Northern Territory, each boasting a significant 10GW capacity. These ambitious projects will place Australia at the forefront of clean energy innovation and production.
One of the key elements in these projects is the renewable hydrogen production technology which will be developed in a strategic partnership with US multinational company, GE Vernova. This innovative technology will utilize modular and off-grid modules, making it possible to set up and operate in various locations.
As for financial backing, CIC’s current equity partners comprise of several major financial institutions including the Asian Development Bank, DBS, Commonwealth Bank, State Street, and MUFG. Additionally, more funding is anticipated from a project fund that is set to be announced in the near future.
One of the distinct advantages of this production method is its flexibility. It facilitates hydrogen production in solar-rich locations, without the necessity of water availability. This is achieved through the use of advanced atmospheric water generation technology.
CIC’s approach not only revolutionizes the green hydrogen production process but also reduces the need for government and community-funded infrastructural support. This is due to the fact that the modular hydrogen production units can operate entirely off-grid, eliminating the need for traditional infrastructure.
In addition, CIC’s unique method of harnessing atmospheric water and solar energy presents new opportunities for renewable fuel production in central Australia. This innovative approach could potentially transform the renewable energy landscape in the region.
The concept of a 10 GW renewable hydrogen project in South Australia has been on CIC’s agenda for over two years. The plans for this project also include involving a local supply chain in the module development process, further boosting the local economy.
As for the timeline, the first modules are expected to start producing hydrogen in either the Northern Territory or South Australia by the end of this year. This significant milestone will mark the commencement of a sustainable energy era in Australia, positioning the country as a global leader in green hydrogen production.
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