Sunshine Hydro, a company proposing to combine pumped hydro with green hydrogen production, says it has has sold a 20 per cent option in its landmark flagship Queensland project to a First Nations group.
Sunshine Hydro says it hopes that the deal with the First Nations Greentime Energy Group (FNGEG) can be supported by financiers such as NAIF and CEFC.
The Djandori Gung-i (Spirit in the Water) Superhybrid clean energy project at Miriam Vale, also known as the Flavian Superhybrid project is a unique proposal to deliver up to 600MW of pumped hydro capacity and up to 300 MW of hydrogen electrolysers.
Sunshine Hydro chairman Michael Myer says he expects FNGEG will become a long term partner in the project and that it will bring a team of experienced tunnellers who are currently working on Genex’s 250 MW Kidston project and the power station fit-out.
He hopes it can create a model for other renewables companies in Australia.
“We’re trying to create a platform whereby this model could be seen to be one that could work for proponents and for First Nation stakeholders around the country,” Myers told RenewEconomy.
“It’s about creating a model. These are intergenerational assets and their [FNGEG’s] motive was we want to create intergenerational assets and wealth, and this is the way we’ve gone about it.”
Related: Sunshine Hydro chairman Michael Myer will present the Djanduri Gung-i Superhybrid Project at a Connecting Industry Luncheon on August 28 in Gladstone, Queensland. To learn more, connect here.
Myer says his company’s prospective backers, one from European and one from Asia which have experience in pumped hydro, were very supportive of the move.
FNGEG director Tony Martens says securing an equity stake is a first for them and they’re looking to roll out the model.
‘We see ourselves as a key advocate, consultant, and broker to assist other First Nations groups wanting to enter into arrangements with project proponents who are proposing clean energy projects on their country,” he told RenewEconomy.
“I suspect there will be other traditional owner groups in Queensland that start approaching us, to say how did you do and how can you help us achieve similar outcomes.”
Sunshine Hydro and its shareholder Energy Estate unveiled the “world first” super-hybrid green hydrogen project in 2022. It was valued at up to $5.5 billion and will combine as much as 1.8GW of new wind generation and 600MW of pumped hydro with 18 hours of storage.
The project components could include 300MW of hydrogen electrolysers, 50MW of liquefaction, and a 50MW hydrogen fuel cell, and would have the capacity to produce 65 tonnes of green hydrogen a day.
This article first appeared in Renew Economy.
