ASX Renewable Energy Stocks: South Australia wants to develop a new Hydrogen Act
The South Australian Government has revealed plans to develop new hydrogen legislation to licence and regulate the production of hydrogen in the state.
Speaking at the Australian Hydrogen Conference in Adelaide yesterday, where more than 700 global energy leaders converged, Premier Peter Malinauskas said the new act will “provide a single window into government for licensing and regulating hydrogen generation projects.”
This would be similar to what has been afforded to the oil, gas and geothermal industries in South Australia through the Petroleum and Geothermal Energy Act 2000, he added.
“The scope of the new Act will cover manufacturing of all forms of hydrogen, including green hydrogen manufactured from renewable energy, and blue hydrogen manufactured from methane in conjunction with carbon capture and storage to permanently sequester the associated carbon dioxide emissions.”
Malinauskas also called for designs and delivery concepts from the market for the construction of its new hydrogen facility in Whyalla.
According to Renew Economy, the Premier first unveiled the plan to build the hydrogen hub, including a 250MW electrolyser and a 200MW hydrogen-fuelled power station, just weeks out from the state poll.
Origin Energy says ongoing volatility in market conditions is likely to impact upon operations for the remainder of the year and heading into FY2023 as coal plant outages across the domestic landscape – along with high coal prices – continue to contribute to a steep escalation in wholesale electricity prices.
“Ongoing challenges with coal supply have been impacting Eraring Power Station throughout FY2022,” the company said.
“However, the situation has deteriorated significantly in recent weeks, with material under-delivery of contracted coal compared to expectations, and with Centennial Coal notifying Origin of further production constraints at its Mandalong mine.
“Deliveries from the Mandalong mine are expected to be interrupted during the remainder of FY2022 and into the first half of FY2023.
“Equipment supply chain delays are also expected to impact coal deliveries in FY2023.”
This recent material under-delivery of coal to Eraring results in lower output from the plant, additional replacement coal purchases at significantly higher prices, and is being exacerbated by coal delivery constraints via rail.
“Despite positioning the year with a relatively low short position across all states, the lower output from Eraring results in a greater exposure to the purchase of electricity at current high spot prices in order to meet customer demand,” Origin said.
GRV says it has secured an “exceptional growth opportunity” in the renewable energy sector through the proposed acquisition of a privately held Queensland-based geothermal energy company.
Greenvale has entered into a conditional agreement to acquire an initial 51% controlling interest in Within Energy, a geothermal energy company based in Toowoomba, Queensland, increasing to 100% ownership subject to satisfaction of agreed milestones.
The acquisition will provide Greenvale with a clear pathway to fast-track the permitting and development of the Alpha Project in Central Queensland, as well as propelling the company to the forefront of the green energy movement currently gaining significant momentum around the world.
Historically, geothermal projects in Australia have focused on high temperature reservoirs (above 180°C) which exist only at depths greater than 3,000m and are typically found only in remote locations.
Within Energy is focusing on advancements in Binary Cycle systems that use lower temperature reservoir water (optimally between 100-120°C) and a heat exchanger process to operate a turbine in a closed loop.