Consortium greenlights green energy corridor between Queensland and Korea
Three of Korea’s largest conglomerate groups have formed a new Consortium in Queensland to unlock the State’s hydrogen potential and build a green energy export corridor, connecting North Queensland to north-east Asia.
Premier Annastacia Palaszczuk today observed the signing of the Memorandum of Understanding (MoU), to officially launch the Han-Ho Hydrogen Consortium which would develop a supply chain to export more than 1 million tonnes of green ammonia per annum from Australia to Korea by 2032.
The Consortium consists of Australian-based Ark Energy and its parent company Korea Zinc, as well as Korean conglomerates Hanwha Impact and SK Gas.
At the heart of the Consortium’s plans will be the development of Ark Energy’s Collinsville Green Energy Hub south-west of Bowen which will have the potential to generate up to 3,000MW.
“Today is another step forward in Queensland’s quest to be a hydrogen powerhouse,” the Premier said.
“Korea is Queensland’s third-largest two-way trading partner and one our largest sources for foreign investment."
“The world’s largest zinc producer Korea Zinc is a longstanding important contributor to our regional economy, and through the Sun Metals Corporation, is the largest private sector employer in North Queensland."
“This MOU signals their intention to develop future green hydrogen and ammonia opportunities in North Queensland which means more local jobs and more investment.”
In January 2021, Korea Zinc launched its subsidiary Ark Energy in Queensland, to accelerate its energy transition, beginning with Sun Metals zinc refinery in Townsville.
Based at the refinery, Ark Energy’s SunHQ Hydrogen Hub (SunHQ) will produce green hydrogen from a behind-the-meter connection to the co-located 124MWac Sun Metals solar farm.
Phase 1 of SunHQ is supported by a $5 million Queensland Government funding commitment, through Round 1 of the Hydrogen Industry Development Fund (HDIF).
Korea Zinc Vice Chairman Yun B. Choi said the Consortium brings together three of the major players in Korea’s hydrogen economy which have a forecast demand for more than 2 million tonnes of green ammonia per annum from 2030.
