Global Energy Ventures signs MoU with the Hyenergy Project
Global Energy Ventures Ltd has entered into a non-binding Memorandum of Understanding with Province Resources and Total Eren (together the HyEnergy Project partners) to support a technical and commercial feasibility study on exporting green hydrogen from the HyEnergy Project, located in the Gascoyne region, in Western Australia, to nominated markets in the Asia-Pacific region, according to the company's release.
TERMS OF THE MOU
• GEV will undertake a feasibility study to evaluate the technical and commercial feasibility of exporting green hydrogen from the HyEnergy Project. The scope includes transport from the onshore hydrogen gas production facility to an offshore ship loading buoy and then on to nominated Asia-Pacific markets utilising GEV’s compressed hydrogen shipping solution.
• The purpose of the Study is to provide the HyEnergy Project partners with sufficient confidence to warrant the selection of compressed hydrogen as a preferred export method in the next phase of project engineering.
• The MOU is non-binding, non-exclusive, and expires on 31 December 2022.
The project is to be developed in phases totalling up to 8 GW in installed renewable energy capacity to be owned by Total Eren, and downstream assets to be equally owned (50/50) by Total Eren and Province. The HyEnergy Project is completing a scoping study aimed for completion in 2021. The project location is ideally suited for a potential C-H2 shipping solution given its coastal location and within a regional distance to multiple Asian markets with a future requirement for imported hydrogen.
