Genex nabs new PPA for 775-MW solar project in Queensland
Sep 17, 2024 9:23 CESTAllied Green Ammonia Pty Ltd has hired Affinity Capital Group as a lead manager and strategic financial adviser to help it raise about USD 6.5 billion (EUR 5.90bn) for the development and construction of a large-scale green hydrogen and ammonia facility in the Northern Territory of Australia.
With the appointment, the Australian energy infrastructure projects developer is advancing work on the planned facility at Nhulunbuy, Gove Peninsula, touted as one of the largest of its kind globally.
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The site will be capable of producing 486 tonnes per day of green hydrogen for an annual output of 960,000 tonnes of green ammonia onsite. The project envisages the utilisation of 4.75GW per hour of solar electricity. Once operational, it will provide low-carbon e-fuels to key trading partners in Australia.
Affinity noted in the statement that it has started discussions with a range of global infrastructure funds, government financing agencies, export credit agencies and several strategic partners to secure optimal financing solution.
AGA has already completed the pre-front end engineering design (FEED) and the project feasibility studies for the project with positive results. It has signed an offtake memorandum of understanding (MoU) with French ammonia trading company Trammo with first deliveries expected in the fourth quarter of 2028.
In addition, the company is currently in negotiations for preapproval for about 70% of the engineering, procurement and construction (EPC) contract value from the Spanish Government Export Credit Agency CESCE.
Other key partnerships have been secured as well.
Earlier this year, US hydrogen solutions provider Plug Power Inc said that it has signed a Basic Engineering and Design Package (BEDP) with AGA for a 3-GW electrolyser plant for the project. In mid-November, Danish decarbonisation technology supplier Topsoe was selected to supply equipment for the green ammonia facility.
(USD 1 = EUR 0.908)
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