ReNu and HESTA investigate hydrogen opportunities

7th June 2023 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

ReNu and HESTA investigate hydrogen opportunities

PERTH ( – Junior ReNu Energy has inked a platform agreement with superannuation fund HESTA which could result in the development of hydrogen projects.

The platform agreement provides for the potential co-investment by ReNu and HESTA in selected hydrogen projects, with ReNu being responsible for the development and operation of these projects.

ReNu told shareholders on Wednesday that the company’s wholly-owned subsidiary Countrywide Hydrogen’s Tasmanian hydrogen projects would be the first projects to be presented to HESTA for potential co-investment during 2023.

“We have a strong portfolio of green hydrogen opportunities we are proud to potentially progress with HESTA,” said Countrywide MD and ReNu executive director Geoffrey Drucker.

“Our Tasmanian domestic supply projects are on track for final investment decision this year. Our goal in Tasmania is to create a State-wide ecosystem for the production, distribution and use of green hydrogen and then replicate the model on the mainland. Our project partners are critical to our success. We can think of no better potential co-investment partner than HESTA who we originally singled out as an ideal and environmentally responsible partner.”

Countrywide’s proposed Hydrogen Tasmania Brighton project is a proposed electrolysis production facility on land adjacent to the Brighton Transport Hub near Hobart. Expected to be producing hydrogen in early 2024, subject to final investment decision, Countrywide is modelling the generation of 1 MW to 2 MW, or 430 kg to 900 kg H2 a day from the project to meet anticipated demand from natural gas customers, road transport operators and users of diesel. Initial potential users of hydrogen produced by the project include gas customers in and around Hobart, industry at Brighton and hydrogen-powered trucks and buses.