Asia Pacific
Delivering green hydrogen and its derivatives at scale
InterContinental Energy is The Trusted Partner in Hydrogen and has been pioneering giga-scale green hydrogen projects and technology since 2014. Using upstream wind and solar, InterContinental Energy delivers green hydrogen at scale to accelerate the energy transition. InterContinental Energy has been pioneering best-in-class green fuels hubs since 2014 with a portfolio of Tier 1 projects across Australia and the Middle East.
InterContinental Energy
Type of investment
Country: Australia, Oman
Fund: Hy24, Clean H2 Infra Fund. Joint equity investment of $115 million alongside GIC
Date: September 2023
Sector: Greenfield / Upstream – Green Hydrogen and derivatives production
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With a highly experienced, multi-disciplinary and global team, InterContinental Energy thinks big to turn innovation into action - guided by the ethos of “doing the right thing, the right way. To lower the cost of green fuels production InterContinental Energy has designed the revolutionary P2(H2)Node, bringing modularity and standardization to large scale project delivery. The P2(H2)Node technology will be offered under license to other project developers to accelerate the energy transition.
In September 2023, InterContinental Energy entered the next phase of growth with strategic equity investments from GIC, a leading global institutional investor, and Hy24, totaling USD 115 Million. GIC deepened its shareholding position in InterContinental Energy with continued investment. Hy24, investing through its Clean Hydrogen Infrastructure Fund, brings in a rich ecosystem of leading industrial and financial players in the hydrogen space that are active in the entire value chain, creating new opportunities for InterContinental Energy and its stakeholders.
Deploying integrated renewables and green hydrogen projects
InterContinental Energy projects, which are among the most advanced in the world, will be developed in phases, with an overall ambition of ~ 100 GW of total installed renewable capacity by 2050. The first phases of the portfolio will be online before the end of 2030 – dovetailing with the projected demand for green hydrogen which is expected to ramp up from 2030, according to the International Energy Agency. Green hydrogen is an emerging sector with market sizing potential forecasted to reach between 450 and 600 million tons per annum (MTPA) by 2050. InterContinental Energy’s portfolio of projects is among the largest in the world and is projected to produce more than 5 MTPA of green hydrogen to help offset more than 50 MTPA of CO2.
Building strategic partnerships
“As we celebrate our 10th year anniversary in 2024, we would like to take this opportunity to thank all our strategic investors, host governments, project partners, and Traditional Landowners, for their support in our long-term vision. We look forward to delivering our commitments in accelerating the energy transition through large scale production of green fuels as The Trusted Partner in Hydrogen.”
Key figures
10 years
of renewables and hydrogen projects development
100 GW
of projects located in Australia and Middle East to produce green fuels at scale
P2 (H2) Node TM
a revolutionary technology development to reduce the cost of large-scale green hydrogen globally