- USD 10.75 billion is to be invested.
- 410,000 tonnes of green hydrogen to be produced annually
Osaka Gas Ltd, a Japanese company has entered into a joint agreement with Aqua Aerem, towards the development of Aqua Aerem’s 10GW project for the production of cheap clean hydrogen in Australia’s Northern Territory. The hydrogen produced will be directed for local consumption and export.
An agreement between the two companies means an investment of USD 10.75 billion will be committed to the project. The project management, engineering, and technical support will be covered by Osaka Gas, while both companies- Osaka Gas and Aqua Aerem will manage the sales of hydrogen and the negotiation with the equipment manufacturers aspect of the project.
Work will commence on the Desert Bloom Hydrogen Facility in 2022 and the complex is expected to begin operational commercial production of hydrogen by 2023. Upon its emergence of full capacity, the plant is projected to yield 410, 000 tonnes of green hydrogen every year.