ADELAIDE, Australia,
May 21, 2024 /PRNewswire/ -- Amp
Energy ("Amp" or the "Company") announced today it has finalised
all required commercial agreements for the development of the Cape
Hardy Advanced Fuels Precinct – one of the leading green hydrogen,
green ammonia and advanced fuel projects in Australia. The agreements, which were executed
with Iron Road Ltd, include the purchase of a 630-hectare parcel of
land at Cape Hardy as well as finalised royalty structure and
common user infrastructure agreement. Amp will continue to build
upon development progress made since announcing the Strategic
Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production
capacity to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will provide production
at scale with up to 10 GW of planned electrolyser capacity.
Development will be structured to initially bring 1 GW online with
incremental stages to reach 10 GW of total capacity.
The project will both cater to the domestic Australian
market, supporting the Australian Government's net zero goals,
while also featuring global export capabilities. To
facilitate distribution, Cape Hardy will be equipped with
Australia's first purpose-built
advanced fuels export terminal.
Amp has been in discussions to develop the Cape Hardy Advanced
Fuels precinct, in collaboration with Iron Road Ltd and The
Government of South Australia, for
the past two years. During that time, Amp has made significant
development progress. The project's concept, design, and
pre-Front End Engineering Design (FEED) phase have been studied and
reviewed by two leading global engineering firms, Arup and Technip
Technologies, as Amp targets completion of pre-FEED studies for the
first 1 GW electrolyser phase over the next 9 months. FEED scoping
and contracting is currently underway ahead of awarding the FEED
contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced
Northern Water Supply (NWS) seawater desalination plant that will
be located at Cape Hardy to meet the project's demand for
electrolyser feed water, cooling water, process plant water, and
fire water. Amp is co-funding pre-FID expenditures for the NWS
project.
Additionally, Amp is working closely with the Barngarla
Determination Aboriginal Corporation RNTBC ("BDAC"). With
continued support from the BDAC, Amp is confident the Cape Hardy
Advanced Fuels Precinct will have a meaningful economic impact on
the region. Amp currently estimates this will include
approximately 4,000 direct and 6,000 indirect jobs for the first
gigawatt of electrolyser capacity alone.
"We are seeing growing demand for Advanced Fuels both in
Australia and abroad. This
includes green ammonia, liquid hydrogen, methanol, and sustainable
aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow
for large-scale production of these fuels that will be critical to
the energy transition and achieving net zero targets. We could not
be more excited about the project's potential impact, and we are
grateful for the partnership and continued support from Iron Road
Ltd, the South Australian Government and BDAC as we progress full
steam ahead on development" said Paul
Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe
Szakacs said "The State Government recognises the
strategic importance of the Cape Hardy Advanced Fuels Precinct
attracting investment into the state for domestic and export
opportunities, as there is an increasing flight to quality for
hydrogen projects worldwide."
About Amp
Amp Energy is a global energy transition development platform,
which delivers renewables, battery storage, Advanced Fuels and
green AI data centers at scale, together with proprietary
AI-enabled grid flexibility through its Amp X platform. Since its
inception 15 years ago, Amp has developed and built or contracted
14 GW of assets globally. Amp is backed by major investments from
institutional capital partners including global private equity firm
the Carlyle Group, who has invested over US$440 million. The company has global operations
throughout North America, the UK,
Australia, Japan, and Spain.
For more information, please visit amp.energy
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