- Provaris Energy’s (PV1) Tiwi H2 project receives Major Project Status by the Northern Territory Government
- Major Project Status is given to a project that the NT Government recognises as having significance, strategic impact and potential benefits to the Northern Territory
- Provaris and the NT Government have entered a project facilitation agreement to develop the Tiwi H2 project which has more than a 30-year life and set to create hundreds of jobs
- Located on the Tiwi Islands, the Tiwi H2 project intends to use solar energy to produce up to 100,000 tonnes per annum of green hydrogen for export into the Asia Pacific region
- Provaris is down 8.24 per cent with shares trading at 7.8 cents at 1:37 pm AEST
Provaris Energy’s (PV1) Tiwi H2 project has been awarded Major Project Status by the Northern Territory Government.
Major Project Status is given to a project that the NT Government recognises as having significance, strategic impact and potential benefits to the Northern Territory.
Receiving Major Project Status enables government support, coordination and facilitation, a dedicated project case manager, assistance in identifying and mapping regulatory approvals, and facilitation of engagement with the Australian Government.
Provaris and the NT Government have now entered a project facilitation agreement to develop the Tiwi H2 project.
“The award of Major Project Status by our government is recognition to the substantial economic and social benefits expected to be delivered by the Tiwi H2 project and its potential strategic significance to the Northern Territory and Australia in developing a hydrogen production and export industry,” NT Chief Minister Natasha Fyles said.
Located on the Tiwi Islands, the Tiwi H2 project intends to use solar energy to produce up to 100,000 tonnes per annum of green hydrogen for export into the Asia Pacific region.
It has a project life of over 30 years and is expected to create 500 jobs during construction and 100 jobs once operational.
“The endorsement of the Tiwi H2 project by the NT Government is another significant milestone for Provaris as we move forward with our development program,” Provaris Managing Director Martin Carolan said.
“Major Project Status will deliver the project access to coordinated and streamlined government agency support for future approvals and assistance with Federal Government agencies.”
Provaris was down 8.24 per cent on the market with shares trading at 7.8 cents at 1:37 pm AEST.