Total Eren, Province Resources partner for 8GW Australian green hydrogen project Email
Total Eren developed the 256MWp Kiamal Solar Farm (pictured) in the Australian state of Victoria. Image: Total Eren.
A solar- and wind-powered green hydrogen plant in Western Australia has secured the backing of France-based independent power producer Total Eren.
Province Resources, an exploration company that revealed plans for the HyEnergy Project earlier this year, has signed a four-month memorandum of understanding with Total Eren to cooperate and proceed with the installation’s development.
Set to be built in the Gascoyne region of Western Australia, the project will be equally owned by both partners and will be developed in two stages. The pair will now carry out a scoping study and aim to execute definitive agreements within the next four months.
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Province Resources (ASX:PRL) teams up with Total Eren for green hydrogen project
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Province Resources (PRL) has teamed up with Total Eren for a potential major green hydrogen project in Western Australia
The parties plan to undertake a feasibility study for the hydrogen project
Notably, in Australia, Total Eren successfully developed, financed and constructed Victoria’s largest solar farm, Kiamal Solar Farm
The project will be located in the Shire of Carnarvon and will be developed in two stages totalling up to eight gigawatts in installed renewable energy capacity
On the market this morning, Province is up 24.1 per cent and is trading at 18 cents per share
19 April 2021
French renewable energy giant Total Eren will partner with Perth-based Province Resources to develop a plan for a massive 8GW green hydrogen facility in Western Australia, another boost for Australia’s rapidly emerging green hydrogen industry.
ASX listed Province Resources announced in a statement on Monday that it has signed a memorandum of understanding with Total Eren to cooperate on the completion of a feasibility study into the hydrogen production facility in the Gascoyne region of Western Australian.
Province plans to take advantage of the ample wind and solar resources in regional W.A. that has already attracted interest from at least half a dozen rival projects to develop the 8GW green hydrogen production facility.
Why the Province Resources (ASX:PRL) share price just hit an all-time high
Daniel Ewing | April 19, 2021 1:04pm |
More on:
The
Province Resources Ltd(ASX: PRL) share price is storming higher today as the company announced a new, global green hydrogen project.
Shares in the small-cap natural resources company have been surging higher in recent times, reaching an all-time high of 20 cents this morning.
Currently, the Province Resources share price is sitting at 18 cents, up 24.14% on Friday’s close.
Green hydrogen
Dubbed the ‘fuel of the future’, green hydrogen has been part of a global thematic that has “seen billions of dollars of invested capital” flow into the industry. According to an ABC report, the estimated potential demand for imported hydrogen in China, Japan, South Korea and Singapore alone could reach $9.5 billion by 2030.