The Australian Government has granted ‘flagship project status’ to the Asian Renewable Energy Hub (AREH), a A $ 36 billion ($ 25.7 billion) wind and solar project.
Initially, the project will focus on developing 15GW capacity and increasing it to 26GW at a later stage.
Reuters reports that the proposed hub will be developed in the Pilbara region over an area of 6,500 km².
During the construction phase, the project is expected to create more than 20,000 direct and indirect jobs and 3,000 jobs when fully operational.
Australian Minister of Industry, Science and Technology Karen Andrews said: “The Asia Renewable Energy Center has the potential to transform the East Pilbara and surrounding areas, Broome, and to contribute to Australia’s huge new export industry.
“The factory can not only export on a large scale, but can also supply industry in the region while creating new job opportunities and economic growth.”
Once completed, the project at full capacity is expected to generate up to 100TWh of electricity annually.
InterContinental Energy in collaboration with CWP Energy Asia, Vestas and a Macquarie Group fund is developing AREH.
The final investment decision for the hub will be made in 2025.
Energy and Emissions Reduction Minister Angus Taylor added: “This project has the potential to help reduce global emissions while building new Australian industries that create jobs and opportunities in the Australian region.
“Projects like the Asian Renewable Energy Hub will help us achieve our goal of ‘H2 under $ 2’ and position Australia as a world leader in clean hydrogen.”
In addition to clean energy, Western Australia aims to produce hydrogen and ammonia by the end of the decade.
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