- Ark Energy’s parent Korea Zinc, along with Korea’s Hanwha Impact and SK Gas have signed an MoU formed a green hydrogen consortium
- The Queensland based consortium aims to support Ark Energy’s Collinsville Green Energy Hub with up to 3 GW capacity
- The aim of the MoU is to generate and export over 1 million ton green ammonia annually to Korea by 2032
Australian green hydrogen company Ark Energy along with its parent company Korea Zinc and 2 other Korean business conglomerates Hanwha Impact and SK Gas form consortium for a 3 GW green energy hub in Queensland, to export over 1 million ton of green ammonia annually to Korea by 2032.
The memorandum of understanding (MoU) signed will have the Han-Ho Hydrogen Consortium develop Ark Energy’s up to 3 GW Collinsville Green Energy Hub in south-west of Bowen. It will support the development of green hydrogen which will then be used to create a supply chain to generate and export green ammonia.
In a statement, the Queensland government did not specify the renewable energy technologies for the project but said it is aligned with the Queensland Hydrogen Industry Strategy launched in 2019.
“This MOU signals their intention to develop future green hydrogen and ammonia opportunities in North Queensland which means more local jobs and more investment,” said Queensland Premier Annastacia Palaszczuk.
Korea Zinc is the world’s largest zinc producer, Hanwha Impact is into petrochemicals business and SK Gas is invested into LPG market of Korea. Ark Energy was launched by Korea Zinc in January 2021 to produce green hydrogen from a behind-the-meter (BTM) 124 MW AC Sun Metals Solar Farm at Townsville, for the latter’s Sun Metals Zinc Refinery.
This SunHQ Hydrogen Hub of Ark Energy is supported by a $5 million funding from the Queensland government under round 1 of Hydrogen Industry Development Fund (HDIF).
In May 2022, Ark Energy acquired Australian renewable energy developer Epuron Holdings with its 9 GW wind and solar portfolio (see 9 GW Renewables Portfolio Exchanges Hands).