<article><p class="lead">InterContinental Energy (ICE), the developer of two hydrogen projects in Western Australia (WA), said Singapore's sovereign wealth fund GIC has made an investment in the firm of an undisclosed sum and size. ICE needs outside investment to fulfil its hydrogen plans, including a combined 30mn t/yr of ammonia from renewable sources.</p><p>"This is a strategic investment to position GIC early for the emerging hydrogen economy," said GIC chief investment officer of infrastructure Ang Eng Seng. </p><p>ICE is one of the backers to the Western Green Energy Hub (WGEH) project, which plans to build 50,000MW of wind and solar generation capacity to power electrolysers to produce around 20mn t/yr of green ammonia, along with the Asian Renewable Energy Hub (AREH) that plans to install 26,000MW of solar and wind capacity for electrolysers to produce around 10mn t/yr of green ammonia. The WGEH project is located across WA's Kalgoorlie and Esperance regions with AREH in the Pilbara region. </p><p>ICE's partners in WGEH include renewable energy firm CWP Global and The Mining People. The partners in AREH include CWP, Danish wind turbine producer Vestas and Indian investment firm Pathways Investment. The WREH project is aiming for a final investment decision (FID) in 2028 with a total project cost of $70bn. AREH's FID is planned for 2025 with a total project cost estimated at $36bn.</p><p>The WA hydrogen projects form a significant slice of ICE's portfolio that also include ventures in Saudi Arabia and Oman. Its 200,000MW of onshore wind and solar capacity will enable production of more than 14mn t/yr of green hydrogen or 80mn t/yr of green ammonia. </p><p class="bylines">By Kevin Morrison</p></article>
