Climate change, pollution, natural resource constraints and positive public sentiment towards the sustainable investments sector have significantly increased investor interest in the renewable energy sector. Countries around the world, including Australia, are setting ambitious targets dedicated to reducing reliance on fossil fuel energy.
The Bristol Springs Project located in the South West of Western Australia is targeting to become one of the first commercial green hydrogen projects in Australia, and to serve high demand energy markets in Western Australia using a staged development approach. Given that the WA electricity grid is facing a major supply-demand deficit, the initial development stages are planned to focus on electricity generation (solar electricity and a hydrogen-fuelled dual fuel peaking plant).
The strategic location in the heart of the South West of Western Australia is immensely important, as this is one of the fastest growing regional areas in Australia, and both the local population and the Western Australian Government are extremely supportive and progressive regarding the future requirement for renewable energy solutions in the region.
This unique location means world class supporting infrastructure, including roads, water, airports, several ports and a highly skilled local workforce are already in place. This means future constraints others in the industry may face in developing more isolated projects, resulting in higher associated capital costs, will not be an issue for the Company.
We have assembled a balanced and well-respected board of directors and management team, with extensive experience in project development, capital markets and the energy industry. Importantly, we have strong relationships with key stakeholders, including major players in the Western Australian electricity market, end users, local communities and Government.