Danish solar energy equipment supplier European Energy has acquired a majority stake in Austrom, a company that develops 3,600MW Pacific solar hydrogen project.
Located in the Gladstone region in Queensland, Australia, the Pacific solar hydrogen project aims to produce more than 100,000 tonnes of green hydrogen per annum.
The project uses renewable electricity which could power 1.5 million households, eliminating more than six million tonnes of CO2 emissions.
Also, the facility will become a hub for renewable energy production and e-fuels.
European Energy said that it will advance the development works and continue managing the grid process for the Pacific solar hydrogen project portfolio.
European Energy country manager in Australia Catriona Mcleod said: “I believe the vast energy resources of Australia are not limited to fossil fuels but can reach far beyond that. Being a hub for renewable energy production, green hydrogen and e-fuels is the logical next step for our country.
“European Energy is now advancing wind and solar opportunities across the NEM, and as one of the frontrunners in e-fuels and green hydrogen I believe we are very well suited to accelerate the speed in which these projects can be realised.”
Austrom is an Australian company engaged in the procurement and development of large-scale renewable projects.
The company has secured rights to four renewable sites covering a 6,000ha area near the Gladstone export hub.
Its Pacific solar hydrogen project is expected to create new jobs and create a sustainable local and export industry for Queensland, and Australia.
In September this year, European Energy signed an agreement with Austrom to acquire a majority stake in the company, which was completed last month.
European Energy executive vice president and project development head Thorvald Spanggaard said: “It is one of the biggest projects that we or anyone in the world for that matter have undertaken.
“We do believe that it is feasible and realistic to realise this project in 2026 not least because of the willingness of the local authorities in Australia to see the possibilities of moving ahead on the green transition and become a key exporter of the fuel of tomorrow.”
In November last year, European Energy agreed to fully acquire the Power-to-X company REIntegrate, and move its employees to the newly established PtX-department.
