- Province Resources (PRL) finalises the key terms to co-develop its HyEnergy green hydrogen project in Western Australia alongside Total Eren Australia
- The company says it has made significant progress on land access for the project, including the receipt of consent from local communities for licences covering the project area
- Province CEO and Managing Director David Frances says today’s agreement will keep the project at the forefront of large-scale green hydrogen developments in Australia
- The finalisation of the key terms with Total Eren builds on a memorandum of understanding signed between the companies for the HyEnergy project in August last year
- Shares in Province are up 3.45 per cent and trading at 15 cents as of 1:16 pm AEST
Province Resources (PRL) has finalised the key terms to co-develop its HyEnergy green hydrogen project in Western Australia alongside Total Eren Australia.
The agreement builds on the memorandum of understanding signed by both parties in August last year to support the development of the project, which has been recognised by the WA government as a project of State significance.
Province said the parties had made “significant progress” on land access for the HyEnergy development, including the receipt of consent from the Baiyungu and Yinggarda people for licences covering the project area.
Province CEO and Managing Director David Frances said the agreement would keep the project at the forefront of large-scale green hydrogen developments in Australia.
“The key terms recognise the value of Province’s unique relationships with stakeholders in the project area, including native title holders, pastoralists and the wider community,” Mr Frances said.
“It also recognises the deep experience and technical capability that Total Eren brings to the table.
“We have ensured that the key terms provide value for Province shareholders and provide the best possible path forward for the project and we look forward to continue our positive relationship with Total Eren.”
In March, Province completed a scoping study for the development of the project, which was based on a two-phase plan. The first phase was for the initial construction and operation of four gigawatts of upstream power generation, transmission infrastructure and downstream hydrogen production facilities.
Province said an additional four gigawatts of renewable power would be added in phase two.
Further, the company confirmed the agreement would pave the way for a significant step-up in feasibility activities for the project.
Shares in Province were up 3.45 per cent and trading at 15 cents as of 1:16 pm AEST.