Strong fillip: GIC announces equity investment in InterContinental Energy, which is developing major green energy projects, including one in the Sultanate of Oman in partnership.
Singapore is preparing to allocate further investment funds to secure the region’s hydrogen future as part of a new strategic equity investment revealed on Wednesday.
GIC takes stake in green fuels company InterContinental Energy ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.
8 April 2021
InterContinental Energy, the Hong Kong-based green hydrogen developer that is one of the key players behind the 26 gigawatt, $36 billion Asian Renewable Energy Hub in the Pilbara, has announced a string of new top-level hires as it accelerates its ambitious green hydrogen manufacturing plans.
InterContinental has teamed up with with Australia’s CWP and global wind energy giant Vestas to advance the AREH, with a plan to build 26 gigawatts of wind and solar capacity on a 14,000 square kilometre site in the East Pilbara in Western Australia.
The bulk of that capacity will go towards manufacturing green hydrogen for use in both domestic and international markets, with 3 gigawatts going to power big energy users in the region. The first stage of the project, which will build 15 gigawatts of capacity, received environmental approval from the Western Australian government in October last year.