Amp Energy Announces $15.5 Million Deal with Iron Road for Advanced Fuels Precinct Development
Key Ideas
- Amp Energy has agreed to purchase 630 hectares of land from Iron Road for the development of the Cape Hardy Advanced Fuels Precinct, including an electrolyser with a capacity of 10GW.
- The project is expected to create up to 4000 direct jobs during the establishment phase, with an additional 6000 indirect jobs expected during the development of the first gigawatt of capacity.
- Iron Road will retain ownership of approximately 487 hectares at the Cape Hardy Industrial Port Precinct, accommodating the Northern Water desalination plant and facilities for green iron manufacturing opportunities.
- The agreement aims to streamline planning and development complexity by selecting Amp Energy as the single developer for Cape Hardy's green hydrogen hub, contributing to South Australia's hydrogen strategy.
Amp Energy has announced a significant deal with Iron Road in Australia, involving the purchase of 630 hectares of land at the Cape Hardy Industrial Port Precinct on the Eyre Peninsula. The $15.5 million agreement also includes project development payments to Iron Road and royalties on hydrogen production, amounting to $426 million. Amp Energy plans to develop the Cape Hardy Advanced Fuels Precinct on this land, with an electrolyser capacity of 10GW. The project is expected to generate up to 4000 direct jobs and 6000 indirect jobs during development. Iron Road will retain ownership of part of the land for other infrastructure, including the recently announced Northern Water desalination plant and facilities for green iron manufacturing. The strategic partnership aims to simplify planning by appointing Amp Energy as the sole developer for the green hydrogen hub, aligning with South Australia's hydrogen strategy. Overall, this initiative is seen as a positive step towards the energy transition and achieving net zero targets.