ReNu Energy Limited announced the signing of a Memorandum of Understanding (MOU) between its wholly owned subsidiary Countrywide Hydrogen Pty Ltd. and Australia Pacific Airports (Launceston) Pty Limited (APAL) for the development of a multi-purpose Green Hydrogen Project at Launceston Airport. Under the terms of the MOU: Countrywide will commence project design for an initial project size of up to a 5-megawatt (MW) electrolyser. The project design will incorporate installation of a solar array on vacant airport land to provide behind-the-meter (BTM) electricity.

The project will be designed with potential to scale up as demand increases, allowing for distributed green hydrogen production. BTM electricity will assist minimise the cost of hydrogen production and the price of hydrogen supplied to customers, making the emissions-free fuel as competitive and attractive as possible. The MOU was executed at a signing event held at Launceston Airport on November 17, 2022.

Participating in the event were the Chairman and CEO of APAL, the Executive Director and CEO of ReNu Energy, and Tasmania's Minister for Energy and Renewables, The Hon Guy Barnett.