Danish RE Developer European Energy Acquires Majority Stake in 3.6 GW Queensland Project

NTPC Green Energy Ltd Joins Hands with Syama Prasad Mookerjee Port for Green Hydrogen Hub

Denmark-based renewable energy developer European Energy has acquired a majority stake in the Pacific Solar Hydrogen Project which is under development near Gladstone on central Queensland coast. The project, which will boast of 3.6 GW of photovoltaic power and battery energy storage, is being developed by Austrom Hydrogen and will be built on a 6,000 hectare site.

The solar and storage facility will is being established to power a hydrogen electrolyser, which has the potential to generate over 100,000 tonnes of green hydrogen every year. Austrom revealed that the hydrogen will be loaded at Gladstone Port and exported to Japan, South Korea along with other countries.

European Energy Executive Vice President and Head of Project Development Thorvald Spanggaard termed the project among the biggest that the firm has undertaken. Country Manager, European Energy, Australia, Catriona Mcleod, added the project is set to become a centre for renewable energy generation and “e-fuels.”

European Energy is looking into development-related in addition to grid connection management for the said project. This is meant to add to the firm’s portfolio in Australia, where it is undertaking major projects. With its sights set firmly on Australia, the Danish firm is keen to develop, build and own renewable projects of large capacity on the continent. Towards this, European energy also established an office in Melbourne early this year.

The firm is eyeing opportunities in wind and solar across the National Electricity Market and claims to be among the “frontrunners in e-fuels and green hydrogen.” As per McLeod, it is “very well suited to accelerate the speed in which these projects can be realised.”

At present, European Energy boasts of a development pipeline that exceeds 20 GW of renewable energy projects across four continents. It is also in the process of building over 1.2 GW of new energy capacity.