SA government to fund Neoen’s solar & wind hydrogen plant construction
Date: 2018-03-09   Author: Dhananjay Punekar  Category: #industry

The Labor government, Australia, has apparently decided to offer a loan worth USD 25 million to Neoen, a renewable energy firm based in France. The fund will be used for constructing a 50 MW Hydrogen electrolyser driven by a new wind & solar plant in South Australia. For the record, the investment includes funds worth USD 1 million allocated for Neoen to finalize its feasibility study for Hydrogen SuperHub, a USD 4 million grant, and a USD 20 million loan for the venture valued at USD 600 million.

South Australia reportedly wants to build the world’s largest solar & wind powered hydrogen storage unit at Crystal Brook in northern region of Adelaide. The new establishment is likely to produce nearly 400 MW of solar & wind energy per day and assist the hydrogen electrolyser to manufacture nearly 20,000 Kgs of hydrogen on a daily basis. The administration 0has stated that the renewable hydrogen manufactured in the plant will be exported to Asia, thereby helping the region to compete against other sustainable energy alternatives for LNG fuel.

As per reliable sources, after receiving a green signal for construction, the plant will generate nearly 260 jobs for the locals during the planning & construction stage and forty more jobs after the commencement of the production operations. With an aim to reach the 75% renewable energy target by 2025, the South Australian authorities have promised to start a large number of green energy projects & fund the construction of such plants.

The Energy Minister for South Australia, Tom Koutsantonis has apparently stated that the new renewable energy projects focusing on increasing hydrogen production will economically benefit the region. He further added that the state government may once again collaborate with Neoen to build a world-leading green energy & storage plant after constructing a Tesla battery at Jamestown.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

CATL builds factory for supplying batteries to German automakers
Author: Ojaswita Kutepatil

Contemporary Amperex Technology Ltd (CATL) a Chinese battery company has reportedly chosen a site for its battery manufacturing setup in eastern Germany. As per sources, the company aims to meet the battery demand of m...


Wind Tre hands over a $700mn equipment supply contract to Ericsson
Author: Pankaj Singh

Swedish telecommunications equipment manufacturer, Ericsson AB has apparently won a contract worth EUR 600 million (USD 700 million) to supply wireless equipment to Wind Tre. The company will also be responsible for in...


LabCorp & Philips to tie up for advancing the use of digital pathology
Author: Pankaj Singh

LabCorp, a prominent life sciences company and Royal Philips, a formidable name in health technology, have announced a partnership which is aimed at enhancing digital pathology. As a part of the collaboration, the Phil...