Federal Government doubles down on renewables, fast-tracks green hydrogen and nickel projects amid fuel crunch

Two WA developments — one in nickel and the other in green hydrogen — are among four projects the Albanese Government has earmarked for taxpayer investment to make Australia’s economy and fuel supply “more secure”. Ardea Resources’ Kalgoorlie nickel project and Copenhagen Infrastructure Partners’ Murchison green hydrogen project have been selected to be part of the “Investor Front Door” pilot program. HAMR Energy’s development of facilities to convert biomass into low carbon liquid fuels and New Energy Transport’s Wilton “zero-emission heavy road freight” depot were the two east coast projects selected. “The Investor Front Door will streamline how project developers and businesses interact with government, helping them navigate approvals processes and fast-track major projects in the national interest,” the Federal Government stated. “These projects are all about making our economy stronger and more resilient, and our fuel supply more secure.” Federal Treasurer Jim Chalmers fired back against criticism that the four projects would do nothing to ease major fuel supply concerns in the short to medium term. “They [critics] fail to understand that cleaner and cheaper energy and sovereign capacity are not just environmental or economic issues, as important as those things are, but also national security issues,” Dr Chalmers said. “If we’ve learnt anything from the last month and a bit, it’s that cleaner and cheaper fuels, sovereign capacity, refining, manufacturing, these things are more important than ever in the context of this extreme pressure that we’ve seen on our global supply chains. “That’s why we’re big believers.” Specific details about the Investor Front Door pilot program were not provided but it appears to be a mechanism to fast-track regulatory approvals and taxpayer funds towards the selected projects. Ardea’s Kalgoorlie nickel project is touted as “Australia’s largest nickel-cobalt mineral resource and one of the largest in the Western developed world”, with first production still at least three years away. Its development has faced significant headwinds given most of Australia’s nickel industry has been wiped out in recent years following an onslaught of cheap Indonesian supply. “Inclusion of the Kalgoorlie nickel project in the Investor Front Door program is an important recognition of the project’s national significance and strategic value to Australia’s critical minerals supply chain,” Ardea managing director Andrew Penkethman said. “The IFD support provides enhanced regulatory co-ordination and access to government financing pathways.” CIP’s Murchison green hydrogen project, which plans to produce large-scale green ammonia using wind and solar, is scheduled for a final investment decision later this year. The 1500 megawatt project received $814 million from the Australian Renewable Energy Agency last year.