Amp Energy to develop multi-billion dollar green hydrogen project in South Australia

Amp Energy (Amp) on Wednesday announced that it has signed an agreement to develop green hydrogen at scale at the Cape Hardy Port Precinct with Iron Road Ltd, an Australian iron ore exploration, mining, and infrastructure development company.

Amp Energy was chosen following a three-month competitive offer-to-bid process. As a lead developer, Amp Energy will be developing and building 5 GW of electrolyser capacity over the next decade in the port precinct, delivering over 5 million tons per annum of green ammonia, which will establish South Australia as a global leader in the production of green hydrogen and ammonia.

"Our background of developing large-scale upstream power systems globally positions Amp for the emerging opportunity of green hydrogen and provides industrial synergies," said Paul Ezekiel, Co-Founder and CIO of Amp.

"The development of strategically located transmission-connected green hydrogen and ammonia facilities at select locations such as Cape Hardy in South Australia is critical to our continued global growth and long-term strategy."

Amp Energy was attracted to the Cape Hardy project due to its strategic geographic location and strong support from the South Australian Government. In addition to the above, other supportive factors such as the site's direct access to high voltage power through existing transmission infrastructure as well as a deep-water port which makes it viable to transport hydrogen products it believed will enable to produce green hydrogen at a competitive global price and help South Australians meet its green hydrogen goals.

"South Australia's world-leading renewable energy reputation continues to strengthen. The Cape Hardy precinct speaks to our State's hydrogen production capabilities. As a leading global hydrogen energy developer and asset owner, we welcome Amp's continued strategic commitment to South Australia," stated Peter Malinauskas, Premier of South Australia.

"This project complements my Government's commitment to hydrogen, through the Hydrogen Jobs Plan. The Hydrogen opportunity will be transformative for the South Australian economy, delivering energy security - while helping the State decarbonise", he added.

Cape Hardy is known to have excellent potential as a green hydrogen development hub in South Australia. It is located on the east coast of Eyre Peninsula approximately 7 km south of Port Neill. It comprises a stretch of 1,200 ha of undeveloped coastal land wholly owned by Iron Road Ltd.

Invest SA, the State Government Agency is said to have supported Iron Road Ltd and Amp Energy at the Fuel Cell Expo in Tokyo in March, with Trade and Investment Minister Nick Champion attending with local companies to showcase South Australia's green credentials and hydrogen export capabilities.

The industry event promoted significant investment opportunities available in the State including the Cape Hardy hydrogen hub, as well as the Government's $593 million Hydrogen Jobs Plan – all part of a $20 billion pipeline of renewable energy projects.

Amp Energy, a Carlyle portfolio Company, is among the largest hydrogen developers in Australia, where it is progressing with the development of 20 GW of electrolyser capacity across three precincts, equivalent to 19 million tons per annum of green ammonia production.