November 23, 2021 Read More →

Singapore offshore wind developer plans $10 billion farm off Irish coast

Bloomberg ($):

A Singapore-based offshore wind developer has signed an agreement to build a huge $10 billion wind farm off the coast of Ireland to power a green hydrogen facility.

Green hydrogen — produced by renewable electricity — is seen as a clean alternative to natural gas for industries such as steel and chemicals, with energy majors from Equinor ASA to BP Plc piling in to the technology. Europe has a goal of 6 gigawatts of installed green hydrogen by 2024, and 40 gigawatts by 2030.

Enterprize Energy Pte’s 4-gigawatt wind farm will supply electricity for hydrogen production and consumption in Ireland, or for conversion into ammonia that can exported, Chief Executive Officer Ian Hatton said in an interview.

“We see Europe as being a net consumer of green hydrogen,” Hatton said. “Our overall model is about developing production of green hydrogen in locations where the natural resources are going to give you the lowest cost and then bring it into the market, so Ireland, to us, is a key hub in that strategy.”

Enterprize isn’t seeking a subsidy for the wind farm. It will raise money through project financing arranged by Societe Generale SA as well as from private equity investment, Hatton said.

[Rachel Morison]

More: Giant Offshore Irish Wind Farm Planned for Green Hydrogen

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