Financing provided for 500 MW Renewable Ammonia Project in Australia
Australian Renewable Energy Agency (ARENA) has granted AUD13.7 million (US$ 12.3 million) to Fortescue Future Industries Pty Ltd (FFI) and Incitec Pivot Limited (IPL) to support a front-end engineering and design (FEED) study for the development of the 500 MW Gibson Island Renewable Ammonia Project in Gibson Island, Brisbane, Queensland.
FFI and IPL will deploy a 500 MW electrolyzer that can generate up to 70,000 tons of renewable hydrogen per year. The project aims to demonstrate a pathway to decarbonise ammonia production by converting existing ammonia facilities to use renewable hydrogen produced through the electrolysis of water.
The FEED study will also evaluate the conversion needs for IPL's existing ammonia plant in order to utilize the hydrogen generation and buys about 400,000 tons of renewable ammonia annually.
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