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Article

Avaada Group: $2 billion secured for new Odisha project

Julian Atchison October 24, 2023

REC Limited has committed nearly $5 billion total to three new energy projects in Odisha state, including renewable ammonia projects to be developed by Avaada and ACME Group. Avaada also announced that its facility will include a “cutting-edge” ammonia storage facility, to be developed at Gopalpur Port. The new funds follow a $1 billion investment in Avaada from infrastructure giant Brookfield earlier this year.

Article

Investments in mega-project deployment & US-based electrolyser manufacturing

Julian Atchison October 11, 2023

GIC & Hy24 will invest $115 million to accelerate the deployment of InterContinental Energy’s portfolio of ammonia mega-projects. In the USA, Electric Hydrogen has closed a $380 million Series C funding round, accelerating plans to build a gigafactory in Massachusetts and deliver its first PEM electrolysers in 2024.

Article

Successful finance pathways for the NoGAPS vessel

Julian Atchison September 05, 2023

New analysis from the Global Maritime Forum has found that the cost gap between ammonia fuel and conventional fuel could be closed as early as 2026 for their new NoGAPS vessel. A series of levers need to be pulled to fully finance NoGAPS and similar vessels (such as long-term charters), but the authors report favorable deals should be readily available. The authors also map out three commercial pathways for NoGAPS to operate, the easiest being exclusive bunkering on the US Gulf Coast.

Article

India: new state-level hydrogen & ammonia policy, national hydrogen standard

Julian Atchison August 29, 2023

The state government of Andhra Pradesh launched its new hydrogen and ammonia policy in June, including a production target of up to 2 million tonnes per year of renewable ammonia, plus a raft of incentives to attract project developers to the Indian state. The news comes as India’s Ministry of New and Renewable Energy sets the standard for “green” hydrogen produced in the country.

Presentation

NSW Hydrogen Strategy update

Michael Probert

The NSW Hydrogen Strategy provides for $3 billion of incentives to commercialise green hydrogen supply chains in NSW and includes Australia’s first and only legislated hydrogen production target. This session will provide an overview of key actions in the NSW Hydrogen Strategy and the status of their implementation. By attending this session, you will gain further details on how to apply for the green hydrogen electricity cost concessions, which provide an estimated $2 reduction per kg of hydrogen. Updates will also be available on the NSW hydrogen hub initiative and the NSW hydrogen infrastructure masterplan.

Article

Macquarie, ACME help finance renewable ammonia projects

Julian Atchison August 09, 2023

A $325 million investment from Macquarie Asset Management will support Atlas Agro’s new Pacific Green Fertilizer Plant in Washington state, USA. FID on the plant is due early next year, which will produce 700,000 tonnes of zero-carbon nitrate fertiliser each year.

In India, ACME Group has secured two loans from REC Limited: $500 million to fully finance the first phase of the ACME’s Duqm renewable ammonia project, and $2.5 billion to support the first phases of ACME’s “round the clock” renewable power projects in Odisha and Tail Nadu.

Article

Allianz invests in Norwegian renewable ammonia production

Julian Atchison July 30, 2023

Allianz will invest €20 million in Fuella, a Norway-based project developer currently working on two renewable ammonia production projects. Fuella’s plants in Skipavika (100,000 tonnes per year) and Korgen (200,000 tonnes) will utilise renewable electricity from Norway’s grid to produce ammonia. The projects will target the marine fuels & fertiliser sectors.

Article

H2Global quadruples funding for low-carbon hydrogen and derivatives

Oscar Pearce July 12, 2023

H2Global has quadrupled its funding for low-carbon hydrogen and derivatives, financed by the German Federal Ministry for Economic Affairs and Climate Action. The funding will support H2Global’s contract-for-difference instrument which covers the increased costs of producing “green” hydrogen and provides secure long-term contracts for suppliers.

Article

Hydrogen Headstart: Australia launches review of national strategy, funding priorities

Julian Atchison July 10, 2023

The Australian government’s new Hydrogen Headstart program will invest AUD2 billion across the full value chain, with select projects to receive production credits to bridge the cost gap between conventional and renewable hydrogen. The government has also initiated a review of Australia’s national hydrogen strategy.

Article

DoE launches $1 billion, demand-side scheme to complement Hydrogen Hubs

Julian Atchison July 06, 2023

The US Department of Energy has launched a new scheme to help “catalyze durable, bankable demand” for clean hydrogen & ammonia production. A request for information notice seeks feedback on potential demand-side measures the US government could implement to complement the regional Hydrogen Hubs program.