Huge 26GW wind and solar project in Pilbara has new name, new partner and domestic focus
The huge 26GW wind and solar project in the Pilbara – one of the biggest in the world – has a new name, a new major shareholder and operator in global oil giant bp, and a renewed focus on opportunities in the domestic market
The Asia Renewable Energy Hub has been renamed the Australian Renewable Energy Hub, so it keeps its acronym.
But the new name also coincides with a commitment to focus – at least initially – on the local market, including green steel manufacturing and the greening of the giant iron ore mines in the Pilbara.
BP,as flagged in June,is taking a 40.5 percent equity stake and will operate the project, and has now finalised that transaction, leaving the remaining shareholders with smaller stakes – InterContinental Energy (26.4%), CWP Global (17.8%) and Macquarie Capital and Macquarie’s Green Investment Group (15.3%).
Bp says AREH has the potential to be one of the largest renewable and green hydrogen hubs in the world.
But its initial plans will be to use around 3GW of wind and solar to supply renewable power, and green hydrogen hydrogen and ammonia, to miners and industrial users in the Pilbara, most of whom have serious net zero targets, before it looks at exports to major international markets.
Bp says the massive renewable resources will help with the greening of iron ore mining and processing, the start of green steel production, replacing diesel fuel used in trains and heavy transport and local electricity generation, and in bunkering of green shipping fuels at Port Hedland.
