Province Resources, which caused a stock market frenzy earlier this year when it announced plans to build 1 GW of hybrid solar and wind to produce green hydrogen in Western Australia, has today said it plans to acquire more land for the project.
APRIL 7, 2021
BELLA PEACOCKSharePerth-based company Province Resources (ASX: PRL) on Wednesday announced it had applied for additional 864 square kilometres of tenure in the Gascoyne region in northwest Western Australia, where it plans to construct its massive green hydrogen project.
Province Resources – originally a gold and nickel exploration company – is currently seeking to finalise its acquisition of Ozexco Pty Ltd, which holds the license applications for the land where Province wants to locate its trademarked HyEnergy Zero Carbon Hydrogen project. The project was announced in February tocolossal fanfare, with its stock price almost tripling.
Its HyEnergy project will include 1 GW of hybrid solar and wind capacity, with the generated electricity being used to produce approximately 60,000 tons of green hydrogen per year, or up to 300,000 tons of green ammonia.
The project is benefiting from a windfall of hydrogen enthusiasm, with Western Australia’s Hydrogen Strategy devoting $10 million worth of funding to green hydrogen, the Australian Renewable Energy Agency earmarking $70 million and the Australian Government’s Advancing Hydrogen Fund setting aside $300 million to advance the market.
Province is seeking to capitalise on the available funding for its HyEnergy project, and seems to be moving at a cracking pace,appointing multinational ERM to de-risk the project for the raft of necessary approvals in March. It has also appointedSydney-based technology company Fulcrum3D to collect preliminary wind and solar dataevery 10 minutes within the project area to assess the wind and solar resource potential.
Now, the company is now seeking to expand before the acquisition of the project area has even been finalised.
“The identification of the additional 864 square kilometres of tenure complements both the Gascoyne Industrial Minerals Project and HyEnergy Green Hydrogen Project and importantly, gives us greater critical mass in the region,” Managing Director David Frances said in a statement today.
“As we continue our desktop studies and progress the tenements to grant, I look forward to further outlining the company’s initial exploration work programmes,” he added.
Province’s projects are set to cover an area of 2,272 square kilometres in Gascoyne, which was selected in part because of its infrastructure, which includes the Dampier Bunbury Natural Gas Pipeline and the North West Coastal Hig
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