On October 6, 2023, Frontier Energy Limited, a renewable energy company listed on the Australian Securities Exchange, in its acquisition of Waroona Energy Ltd., a Canadian company listed on the TSX Venture Exchange with solar assets in Australia.
It is rewarding for us to have played a role in advancing one of the first and lowest cost green hydrogen projects in Australia. The cross-border transaction added scale and momentum to Frontier’s Bristol Springs Renewable Electricity and Green Hydrogen Project by adding Waroona’s adjacent 241MW solar capacity in West Australia to Frontier’s 114MW capacity, providing Frontier with a potential of 355MW of renewable solar power generation capacity.
Frontier is pursuing a staged development approach towards +1GW of renewable energy generation. First, a 120MW solar farm focusing on electricity generation for the Western Australian electricity grid which is currently facing a major supply deficit. Second, a 120MW hydrogen-fuelled (dual fuel) peaking plant which can provide electricity during peak demand times and creates off-take for green hydrogen. Third, a 72MW green hydrogen electrolyser which produces carbon-free hydrogen by using electricity to split the hydrogen from oxygen in water.
The Project is located 120km from Perth in the South West of Western Australia in close proximity to major existing infrastructure, including the existing 330kV Landwehr Electricity Terminal (allowing the Company to sell electricity into Western Australia’s main energy grid), the Stirling Trunk Water Line (which allows the Company to procure water for green hydrogen electrolysis), and the Dampier to Bunbury Natural Gas Pipeline (for potential delivery of green hydrogen gas into domestic markets).
The transaction was completed on schedule on December 14, 2023 by way of a Canadian Plan of Arrangement approved by the British Columbia Supreme Court. Former Waroona shareholders continue to participate in the Project through an approximate 31% ownership in Frontier.
Farris LLP represented Frontier Energy with a team lead by Al Hudec and Dan Everall.
For a copy of the full press release, click here.