Australia: Queensland is set to become a major player in the renewable energy space, as Keppel- a Singaporean infrastructure giant- unveiled its partnership with Incitec Pivot to explore the construction of a Green Ammonia production plant in Gladstone. The announcement of the Memorandum of Understanding marks a significant milestone in the Central Queensland Hydrogen Project (CQ-H2) and represents an exciting development for the region's push towards sustainability.

The Queensland Government's strategy for developing new industries, namely the Queensland Renewable Energy and Hydrogen Jobs Fund, and the Queensland Energy and Jobs Plan includes the CQ-H2 project. CQ-H2 is Australia's largest green Hydrogen project, and it ranks in the top 10 globally at the pre-Final Investment Decision stage. In September last year, as part of his trade mission to Singapore, Treasurer and Minister for Trade and Investment Cameron Dick met with Keppel executives. He later met with Keppel Infrastructure Division CEO Cindy Lim in Brisbane in March this year.

Keppel and Incitec Pivot have announced their commitment to working closely with the Queensland Government to explore all essential infrastructure, licenses, and approvals required for their Green Ammonia production facility in Gladstone. The move comes as the global demand for renewable hydrogen continues to accelerate to support energy transition and domestic energy security. According to estimates, the Hydrogen industry in Queensland has the potential to create more than 8,900 new jobs at its peak and contribute $17.2 billion in hydrogen exports and $12.4 billion to the state's Gross Product over its 30-year life. The Queensland Treasury is playing a critical role in facilitating and funding the Central Queensland Hydrogen Project, which further reinforces the state's reputation as a leader in the production of renewable energy.

Keppel, in partnership with Incitec Pivot and the CQ-H2 consortium, is set to revolutionize the green energy sector by producing reliable and commercially viable energy sources in the form of green hydrogen and Ammonia. This partnership marks exciting and significant export possibilities while also creating regional jobs. Keppel's expertise in developing and operating large-scale energy and environmental infrastructure, when combined with our esteemed partners, will enable us to produce, store, and transport green hydrogen and Ammonia safely, efficiently, and cost-effectively for end-users across the globe, including in Australia and Singapore.

IPL is thrilled to announce its latest venture with Keppel and the Queensland Government. Being part of a hard-to-abate industry, we understand the need for innovative approaches to tackle the challenges and opportunities brought by climate change. This exciting international partnership with Keppel is just one of IPL's many decarbonisation projects that align with our ambitious goal of achieving Net Zero by 2050.