Amp Energy has signed an agreement to develop green H₂ at scale on the Cape Hardy Port Precinct with Iron Road Ltd. Amp Energy, a Carlyle portfolio Company, is among the largest H₂ developers in Australia, where it is progressing the development of 20 GW of electrolyzer capacity across three precincts, equivalent to 19 MMtpy of green ammonia production. Amp’s integrated model in Australia of owning and optimizing feedstock generation assets, transmission, processing and export, will allow the delivery of cost-competitive H₂ production globally.

Amp was drawn to the Cape Hardy project due to its strategic geographic location and strong support from the South Australia Government. The Cape Hardy site has direct access to high voltage power through existing transmission infrastructure as well as a deep-water port that will facilitate transportation of the H₂ product. Furthermore, both the Traditional Owners of the land (the Barngala people) and the Eyre Peninsula landowners have strong relationships with the project, and the Australian Government has already shown firm support through its earlier announcement of $25 MM for further Port infrastructure development. These factors will support the project to produce green H₂ at competitive global prices and help South Australia meet its green H₂ goals.  

The company intends to develop and build up to 5 GW of electrolyzer capacity over the next decade in the precinct, delivering over 5 MMtpy of green ammonia, which will establish South Australia as a global leader in the production of green H₂ and ammonia. At this scale, 4,800 direct and indirect construction jobs and 250 direct and indirect operations jobs are expected to be created.

Amp’s involvement in Cape Hardy will extend its commitment to the state of South Australia. In 2021, Amp established the Renewable Energy Hub of South Australia, a $1.34-B investment in renewable generation and battery energy storage. This strategic commitment supports the clear commitment from the state of South Australia to the green H₂ economy.

“Our background of developing large scale upstream power systems globally positions Amp for the emerging opportunity of green H₂ and provides industrial synergies,” said Paul Ezekiel, Co-Founder and CIO of Amp. “The development of strategically located transmission-connected green H₂ and ammonia facilities at select locations such as Cape Hardy in South Australia is critical to our continued global growth and long-term strategy.”

“South Australia’s world-leading renewable energy reputation continues to strengthen. The Cape Hardy precinct speaks to our state’s H₂ production capabilities. As a leading global H₂ energy developer and asset owner, we welcome Amp’s continued strategic commitment to South Australia. This project complements my government’s commitment to H₂, through the H₂ Jobs Plan. The H₂ opportunity will be transformative for the South Australian economy, delivering energy security - while helping the State decarbonize,” said The Honourable Peter Malinauskas MP Premier of South Australia.