Allens has advised the Australian Renewable Energy Agency (ARENA) on its grant funding of Australia's first large scale renewable hydrogen plant, to be built in the Pilbara in Western Australia.
The project, which reached financial close on 28 October 2022 and is owned by ENGIE, will receive granting funding of up to $47.5 million from ARENA and once built will be one of the world's largest renewable hydrogen plants and will harvest solar power in the Pilbara to make renewable hydrogen. This in turn will be used to produce ammonia for fertiliser production at the neighbouring Yara Pilbara Fertiliser facility.
The $87 million Yuri project will use a 10 MW electrolyser powered by 18 MW of solar PV and supported by an 8 MW battery energy storage system. The project will be the first large-scale renewable hydrogen plant in Australia and one of the largest in the world, and will produce renewable hydrogen to in turn produce ammonia, a vital ingredient in nitrogen fertilisers and which is currently derived from fossil fuels.
'Green hydrogen production is touted to become a key technology for energy storage and carbon emission reduction. We are delighted to have worked with ARENA on its funding of this project, which takes Australia another step closer to becoming a global leader in clean energy and renewable hydrogen export,' said lead Partner Rob Watt.
'The project comes amid a building market focus on Australia's energy transition, and in particular the prioritising of hydrogen as part of the National Hydrogen Strategy.'
A long-standing client of Allens, ARENA is a federal government body established to support the global transition to net-zero emissions by accelerating the pace of pre-commercial innovation.
Allens legal team
Banking and Finance
Rob Watt (Partner), Jamie Guthrie (Managing Associate), Flynn O'Byrne-Inglis (Associate)
Tax
Ellen Thomas (Partner), Jay Prasad (Managing Associate), George Bishop (Associate)
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.