Danish developer EuroEnergy has acquired a majority stake in a company developing 3,600 MW of solar and PtX projects in Australia. European Energy's acquisition of Austrom in Queensland will accelerate the development process of 3.6GW of solar-hydrogen projects in the Gladstone area, the developer said. European Energy will be responsible for the development of the solar-hydrogen project portfolio as well as managing the grid connection process. It is estimated that the project could produce more than 100,000 tonnes of green hydrogen per year.
Thorvald Spanggaard, Executive Vice President and Head of Project Development at EuroEnergy, said:- "Because of the willingness of local authorities in Australia to see the green transition advanced, we believe it is feasible and realistic to realise this project in 2026."
Austrom is an Australian company specialising in the procurement and development of large scale renewable energy projects.In September 2022, Austrom and Euro Energy reached an agreement whereby Euro Energy will acquire a majority stake in Austrom. European Energy said it will accelerate the formal development and grid connection process for its 3.6GW portfolio of solar hydrogen projects in the coming months.