South Korea’s Samsung C&T Corporation Engineering & Construction has committed to creating a mega-scale complex for renewable power generation, storage and hydrogen production with “a substantial manufacturing hub” in Australia’s Northern Territory.
A Memorandum of Understanding (MoU) outlining the company’s proposal was signed with the Territory’s government, according to a press release on Wednesday. The pact will be in force for two years.
The engineering and construction group’s plan envisages the construction of renewable energy parks to produce electricity from solar photovoltaic (PV) and wind energy on a large scale in order to meet the growing demand for green energy in Asia and the Pacific. The proposed site will also accommodate battery energy storage systems and green hydrogen production facilities, plus related transmission infrastructure.
The output of the wind and solar farms is intended to go for companies within the manufacturing segment that are transitioning to 100% renewables, including Samsung affiliates.
“Together, we aim to decarbonise Australia and South Korea and contribute to the development of a sustainable economy,” said president and CEO of Samsung C&T’s construction arm.
During the MoU’s term, the South Korean group and government officials will set up a working group that will explore the feasibility of the project and identify suitable locations. One of the potential sites is the Middle Arm Sustainable Development Precinct on Darwin harbour.