Mid West Clean Energy Project Feasibility Study
Deliverable 2 - Globally cost competitive production cost
LCOH₂ from cheapest available renewable power in 28 markets, 2030*
Pilot
Energy
4.0
$/kg (real 2022)
4.5
PEM electrolyzer
(top of range)
$/MMBtu
33.5
Powered by
solar PV
29.8
3.5
26.0
MWCEP Clean H2 cost (real)
USD 1.20/kg - USD 1.38/kg**
Western alkaline
3.0
22.3
electrolyzer (line)
2.5
18.6
Makes MWCEP competitive with projects
from the cheapest 5 regions, Brazil, China,
Chile, Sweden and Spain
2.0
14.9
1.5
.1.2
Powered by
1.0
Chinese alkaline
electrolyzer
onshore wind
7.4
(bottom of range)
0.5
3.7
0.0
0.0
ՏՈ
UK
Italy
Colombia
Poland
Malaysia
Thailand
Vietnam
Japan
Indonesia
Philippines
South Korea
*Source: Bloomberg New Energy Finance Report 2023 Hydrogen Levilized Cost Update: Cost of Capital and inflation take hold, July 10, 2023
** Source: Refer to Feasibility Results per ASX release on 28 March 2022, 7 June 2022 and 23 September 2022. 65 cent exchange rate applied to feasibility study results that delivered AUD 1.85 to 2.13/kg Blue H2 LCOH
Australia-Korea Business Council Critical Minerals and New Energy Forum | Sydney 30 October 2023
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