MOU Signed with Pacific Hydro for Export of Green Hydrogen

Source: www.gulfoilandgas.com 1/20/2021, Location: Not categorized

Global Energy Ventures Ltd is pleased to provide the following update on the development of a new compressed hydrogen ship (C-H2 Ship) to transport the zero-carbon fuel of the future.

HIGHLIGHTS:
- GEV and Pacific Hydro Australia Developments Pty Ltd (Pacific Hydro) have executed a Memorandum of Understanding (MOU) to explore opportunities regarding the production, storage, loading, ground and marine transportation of green hydrogen produced by Pacific Hydro’s Ord Hydrogen Project.
- Both parties will work collaboratively on developing an export market and associated marine transport solution for green hydrogen utilising GEV’s proprietary C-H2 ship and supply chain.
- Pacific Hydro operate the Ord Hydro Plant, located at Lake Argyle, Western Australia, which has the capacity to supply 30MW of renewable power to the local market.
- Pacific Hydro has completed a feasibility study utilising electricity generated by the Ord Hydro Plant to produce green hydrogen via the process of electrolysis, and market offtake to domestic and future export markets. • The location provides a unique opportunity for hydrogen production, utilising low cost, high availability, dispatchable renewable generation and abundant access to water. • The Ord Hydrogen Project has received funding support from the Western Australia Renewable Hydrogen Fund. • The Ord Hydrogen Project is located near two ports in northern Australia with export potential for green hydrogen to Asian markets.

Martin Carolan, Executive Director commented: “GEV is delighted to enter into this MOU with Pacific Hydro given its long-term success in operating a renewable energy business that is backed by a shareholder group with a global focus on renewable energy. The proposal to locate a green hydrogen facility in the East Kimberley powered by the Ord Hydro Plant can advance the development of one of Australia’s first green hydrogen operations that is ideally located in the North West of WA, in proximity to two ports that will be studied future export of green hydrogen to nearby Asian markets. The Company looks forward to providing regular updates as the MOU progresses through the course of 2021.”

Pacific Hydro’s Director of Strategy and New Business, James Miller-Randle commented: “Almost twenty-five years after the Ord Hydro Plant first began generating electricity, Pacific Hydro is thrilled to enter into an MOU with GEV to explore export opportunities for a renewable hydrogen plant connected to the Ord Hydro power station. The project is currently under development and we are looking forward to engaging with the local traditional owners, Miriuwung Gajerrong and broader community, as well as other key stakeholders as we continue to progress this exciting project.”

UNDER THE TERMS OF THE MOU:
- GEV and Pacific Hydro (the Parties) will engage in discussions and explore opportunities regarding the production, storage, loading, ground and marine transportation, employing GEV’s C-H2 supply chain, of the green hydrogen produced by the Ord Hydrogen Project.
- The Parties will engage in discussions regarding the proposed terms for an offtake and/or transportation agreement or similar contract in respect of the marine transportation of green hydrogen produced by the Ord Hydrogen Project; and
- The Parties will work towards developing an agreed business plan and identifying relevant stakeholder approvals and endorsements.
- The MOU has a term of four years.


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