Provaris Energy (ASX:PV1) - Managing Director, Martin Carolan (left), NT Deputy Chief Minister, Nicole Manison (centre) & NT Deputy Chief Minister, Garry Triglavcanin (right)
Managing Director, Martin Carolan (left), NT Deputy Chief Minister, Nicole Manison (centre) & NT Deputy Chief Minister, Garry Triglavcanin (right)
Source: Provaris Energy (2022)
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  • Provaris Energy (PV1) advances development work for its Tiwi H2 hydrogen project in Australia, with cost estimates and solar farm design on track for April this year
  • The company is in the process of finalising an environmental impact statement (EIS) for the project, with submission planned for the final quarter of the year
  • The company is busy drafting land agreements for the Tiwi Land Council, with Munupi Clan review slated for before the end of the month
  • Meanwhile, Provaris plans to fast-track project definition with Norwegian Hydrogen for a preferred site in the Nordic region to deliver hydrogen to Europe by 2027
  • PV1 shares are up 2.22 per cent and trading at 4.6 cents at 12:30 pm AEDT

Provaris Energy (PV1) continues to advance development work for its Tiwi H2 hydrogen project in Australia, with cost estimates and solar farm design on track for April this year.

Meanwhile, pre-feasibility works are underway in Norway to fast-track project definition for a Nordic hydrogen site.

PV1 is pushing forward with its Tiwi H2 project by preparing an environmental impact statement (EIS), a social impact assessment, a greenhouse gas abatement plan, and by carrying out noise assessments.

Submission of the EIS is anticipated for the early fourth quarter of this year, covering both territory and federal approval processes.

Additionally, the project’s EIS assessment of terms of reference (ToR) is scheduled to be finalised next month by the Northern Territory Environmental Protection Authority.

PV1 said it was on track to deliver its solar precinct early works program by April 2023 as the solar farm entered its final stages of design, capacity generation, and cost updating estimates.

“We are pleased with the progress of our Tiwi H2 Project in Australia and we look forward to achieving important milestones in the upcoming months as we continue to focus on delivering on three key aspects of the project, including environmental approvals, securing land access, and ongoing engagement with the Tiwi Community,” Provaris Managing Director and CEO Martin Carolan said.

“It is also pleasing to see traction in Europe, with increased awareness and interaction from hydrogen developers seeking to understand the benefits of our compressed hydrogen supply chain.”

The submission of draft land agreements for the Tiwi Land Council and Munupi Clan review is scheduled for the upcoming quarter, while agreements for Solar Monitoring equipment are scheduled for the mid-2023 dry season in the region.

Meanwhile, in Norway, the company plans to fast-track project definition with Norwegian Hydrogen for a preferred site in the Nordic region to deliver hydrogen to Europe by 2027.

Europe has recently defined a 10-million-metric-tonne-per-annum import market goal reach of renewable hydrogen for 2030 as part of its RePowerEu Plan, and limited projects of scale are currently on the fast track to reach a final investment decision (FID) to meet this target.

Provaris said it was well-positioned to service this need across the European market to contribute to the demand.

“We are particularly thrilled to keep building a strong pipeline in that region with Norway providing a platform for multiple commercialisation opportunities,” Mr Carolan said.

“With the assistance of NORWEP and the Australian government, recent discussions with several government and industry stakeholders, including Innovation Norway and ENOVA, have highlighted the advanced development of several coastal maritime hubs to supply green hydrogen and we look forward to progressing these discussions.”

PV1 shares were up 2.22 per cent and trading at 4.6 cents at 12:30 pm AEDT.

PV1 by the numbers
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