- The Han-Ho Hydrogen Consortium will advance its export scale green hydrogen hub project in North Queensland from concept to feasibility study
- The study will be supported by $8.5 million investment by Queensland Government towards making Abbot Point into a hydrogen export super hub
- Consortium partners have signed a landmark Heads of Agreement to formalise the partnership and progress the project
- North Queensland set to become hydrogen export superpower with Townsville a critical minerals and hydrogen manufacturing powerhouse
- Queensland's energy exports are estimated to support up to 10,000 jobs and $33 billion in economic activity by 2040
A significant project development between the Han-Ho (Korea-Australia) H2 consortium partners represents one of the leading export project developments in renewable hydrogen and green ammonia between Queensland and Korea.
The signing of a landmark Heads of Agreement in Korea during the Premier's investment mission could be one of the first major projects in Queensland to export green ammonia to Korea, establishing a green energy corridor between Australia and Korea.
The consortium consists of Australian-based Ark Energy and its parent company Korea Zinc, as well as Korean conglomerates Hanwha Impact and SK Gas.
The proposed mega-project in North Queensland will produce up to 1.8 million tonnes per annum of green ammonia and will support the development of up to 4.5GW at Ark Energy's Collinsville Green Energy Hub. The project's development during feasibility stage will be supported by the Queensland Government investing $8.5 million for the Abbot Point Activation Initiative under our Queensland and Energy and Jobs Plan hydrogen hubs program. This investment will rapidly advance the master planning, development and infrastructure arrangements that are needed for Abbot Point to become a hydrogen export super hub including planning for the water and power supplies needed to produce hydrogen at scale in North Queensland. Abbot Point presents a unique opportunity on government-owned land, with existing deep water, port infrastructure and proximity to one of Australia's best renewable energy zones making it a prime location for renewable hydrogen and ammonia developments in North Queensland. Townsville will become a critical minerals and hydrogen manufacturing powerhouse with Korea Zinc's Sun Metals green industrial precinct and Ark Energy's SunHQ Hydrogen Hub supporting the expansion of critical minerals supply chains and the domestic hydrogen industry.
Quotes attributable to Premier Annastacia Palaszczuk:
"While our traditional trade and investment sectors with Korea remain strong, we're also forging ahead in our decarbonisation initiatives.
"We look forward to working closely with the consortium partners to unlock Queensland's renewable energy potential and become a large-scale producer and exporter of green hydrogen. "North Queensland has some of the best solar and wind resources in the world located near Queensland's largest dam. "The Collinsville Green Energy Hub provides more good job opportunities in the Bowen Basin as we create more industries in Queensland.
"Working in collaboration with the Han-Ho H2 Consortium, we will transform the state into a renewable energy powerhouse, delivering clean, reliable and affordable power for generations and providing good, secure jobs for the future.
"Our ongoing partnership with the Korea Zinc group will support Townsville to become a world leader in critical minerals and hydrogen manufacturing including through the SunHQ Hydrogen Hub.
Quotes attributable to Resources Minister Scott Stewart:
"Townsville and North Queensland are perfectly placed to be at the forefront of hydrogen, renewable energy and critical mineral developments.
"This agreement builds on the strong relationship Townsville and the region has with Sun Metals already and will mean more good jobs for the future.
"We have the critical minerals in the ground, the expertise above and the right infrastructure to support the development of both the resources and renewable industries."
Quotes attributable Ark Energy Chief Executive Officer Daniel Kim on behalf of the consortium:
"The collective ambition of the Han-Ho H2 Consortium is to accelerate the energy transition by building new green growth engines for both Australia and Korea. "We believe North Queensland has the potential to become a world class producer and exporter of green hydrogen. "We are committed to working closely with our key stakeholders to unlock and maximise this potential and deliver prosperity to the regional communities in which we operate. Further information:
- Premier Annastacia Palaszczuk witnessed a Memorandum of Understanding (MoU) between project partners in September 2022 to officially launch the Han-Ho Hydrogen Consortium
- Queensland is already leading the charge in the hydrogen sector, with more than 50 hydrogen projects currently underway across the state.
- The Queensland Energy and Jobs Plan will mean 70 per cent renewable energy by 2032, and 80 per cent by 2035, and propel the state to zero net emissions by 2050.
- State's green hydrogen industry is a key element of the plan, luring major investment and opening new export opportunities.
- Government is also supporting industry development through $4.5 billion Queensland Renewable Energy and Hydrogen Jobs Fund.
- Abbot Point is located close to the Isaac and Northern Queensland REZs and within 400 km of the North Queensland Clean Energy Hub REZ. The three REZs have excellent solar and wind capacity potential, to support a large hydrogen scale export industry.
- Queensland's hydrogen industry has potential to support more than 8,900 new jobs at its peak, delivering $17.2 billion in hydrogen exports, and $12.4 billion to Queensland's Gross State Product over its 30-year life.
- In 2022, Korea was Queensland's third largest goods trading partner (exports plus imports), valued at $28.3 billion.
- Trade and Investment Queensland (TIQ) is the government's global business agency, assisting exporters break into emerging and established markets, and promoting Queensland as a strong investment destination.
