Infinite Green Energy secures $320m UKEF financing interest
Infinite Green Energy (IGE) has recently received over $300m in expressions of interest from UK Export Finance. The Company's recent feature in Stockhead discusses IGE's recent vote of confidence and what this means for its green hydrogen projects.
$4.22bn was provided by UK Export Finance to fund global sustainable projects around the world in 2020, providing expressions of interest of $75m in financing for Northham's MEG HP1 project and a further $245 for the Arrowsmith Hydrogen Plant.The MEG HP1 project, containing the existing 11 megawatt Northam Solar Farm is not expected to require EPA assessment. IGE will further financing requirements, now working with UKEF in the delivery of Project Information Memorandums and completion of due diligence.
“Securing this expression of interest to finance our projects is another significant milestone for Infinite Green Energy and is a further demonstration of the global interest in Western Australian renewable hydrogen production”
Stephen Gauld, Chief Executive Officer, Infinite Green Energy
The article states:
"MEG HP1 leverages the recently acquired Northam Solar Farm to power a 10MW hydrogen electrolyser and battery storage with the ability to produce up to 4 tonnes of green hydrogen daily.
This supports WA-based waste management companies for use in refuse collection vehicles and locally based fleet vehicles. Front-end engineering and design work are underway with a final investment decision to be made later this year and hydrogen production expected in early 2024."
Read the full Stockhead article here.
Infinite Green Energy is an Australian-based renewable energy company with a vision to become Australia’s 1st commercial green hydrogen producer.
Green hydrogen is a future renewable energy source with the CSIRO estimating the size of the green hydrogen economy in Australia to be $10B by 2040. The Company is facilitating Australia’s first, and one of the world’s largest, commercial-scale green hydrogen projects - Arrowsmith Plant based in WA.
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