Australia’s Province Resources to acquire Ozexco’s HyEnergy green hydrogen project
Province Resources Ltd is going to buy all of the shares in an unlisted Ozexco Pty Ltd, which include seven exploration licences applications in the Gascoyne Region, Australia. Under the conditional agreement, the company will buy the Gascoyne Project, which includes prospective salt, potash and mineral sands mines. In addition, these projects are also suitable for developing green hydrogen project called HyEnergy Project.
These projects are located in Western Australia’s north-west and spread over 1,408 square kilometres area. The area has all the necessary infrastructure including the Dampier Bunbury Natural Gas Pipeline (DBNGP) and the major North West Coastal Highway.
David Frances, the company Chairman, said, “Province is aiming to address the decarbonisation of heavy transport and industry through the production of zero-carbon hydrogen products.”
The HyEnergy Project is a potential ‘Renewable Green Hydrogen Project’ due to its flat-lying arid landscape with low-intensity pastoral land use. Its climate and wind patterns make it an ideal place for commercial-scale wind or solar farm.
It also has the potential for offshore ship loading facility in the future for the export market. Its solar resource is very rich, averaging 211 days sunny annually with 6.24 kWh/m2 /day. The water for the potential electrolyser plant has the least saline and has the highest potential area of the world-class Birdrong Aquifer if used as an alternate water source. The site also has the potential to use geothermal thermal energy to generate renewable electricity.
Province Resources also highlighted the facts that hydrogen has a tremendous future in the region as Western Australia’s Hydrogen Strategy plans for a 10% mix of renewable hydrogen in the DBNGP by 2030. There is also funding available on both state and federal levels such as Western Australian Renewable Hydrogen Strategy (AU$ 10million), Australian Renewable Energy Agency (ARENA) (AU$ 70 million) and Australian Government Advancing Hydrogen Fund (AU$ 300 million).
