Japan's Eurus Energy invests in Energy Estate's New South Wales hydrogen project

Japan's Eurus Energy has signed an agreement to invest in Energy Estate's under-development Hunter Hydrogen Network (H2N) project in New South Wales, Australia, a spokesperson for Energy Estate said May 4.

H2N is a renewable hydrogen project to produce downstream hydrogen products such as sustainable aviation fuel (SAF), ammonia and liquid hydrogen destined for Japan and Korea, as well as local use.

"A good example of our approach is exploring the opportunities to foster a green hydrogen and e-fuels industry to decarbonize domestic demand and export green fuels to the world," Simon Currie, co-founder of Energy Estate, said in a statement. "Our goal is to develop the skills, technology and knowhow in Australia and New Zealand to deliver to the rest of the world, creating long-term industry export opportunities beyond the production of hydrogen."

On completion of the transaction, Eurus and Energy Estate will form the H2N Development Joint Venture to continue the development of the H2N, with Energy Estate as the lead developer and Eurus as co-developer of the project.

H2N builds upon Energy Estate's existing projects in the region including the Walcha Energy Project, which is proposed to connect to the Hunter through its WalchaLink, and its support for Idemtisu's Muswellbrook hub which will repurpose an existing coal mine to a clean industrial hub incorporating pumped hydro, solar and battery storage, green hydrogen production and an industrial precinct, the H2N website says.

In stage one, which runs 2022-2026, the H2N project will have electrolyzers at Muswellbrook and a hydrogen pipeline from Muswellbrook to Newcastle. It will develop a clean industrial precinct and look at having an integrated potential pumped hydro and hydrogen storage, H2N says. In lower Hunter, it would develop port infrastructure and export facilities.

Eurus Energy Group, a global renewable energy independent power producer and developer, is jointly owned by Japan's Toyota Tsusho Corporation and the Tokyo Electric Power Company, the statement said. It is pursuing more than 4 GW of renewable energy generation projects across 14 countries including Japan, Korea, USA, Chile and Europe, and owns 120 MW of operating wind assets in Australia.

Energy Estate has more than 20 GW of projects in development globally that includes solar, onshore and offshore wind and storage, it says on its website. The company is developing projects in APAC, the Americas, MENA and Europe for renewable hydrogen and chemicals and hydrogen infrastructure, mobility and technology opportunities.

S&P Global Commodity Insights assessed New South Wales hydrogen produced via alkaline electrolysis at $8/kg April 29, up 77.88% from a month ago.

Japan hydrogen produced via alkaline electrolysis was assessed at $4.72/kg May 4, down 41% from a month ago.