Woodside Petroleum (WPL.AX) said on Friday it has acquired land for a proposed hydrogen plant in Tasmania, one of three proposed hydrogen projects the island state is promoting to take advantage of its abundant hydropower and wind power.
The aim is to use the available renewable energy to power electrolysers to split water and produce so-called green hydrogen which would then be converted to ammonia for export, part of a push by Australia, a major coal and gas exporter, to help cut carbon emissions.
They aim to make a final investment decision in 2023 and complete construction in 2025 on the project called H2TAS. Woodside has not disclosed a cost for the project yet.
“Woodside strongly supports a collaborative approach among proponents and with governments to strengthen Bell Bay as a hub,” Woodside spokesperson Christine Forster said in emailed comments, adding that sharing infrastructure would help keep costs down. Government support would be needed for its H2TAS project, the company said.