Renewable hydrogen developer Infinite Green Energy (IGE) has entered administration less than 24 hours before an application for a “winding up order” was due to be heard before the Western Australian Supreme Court.
IGE had been fighting an application filed by Queensland-based investor DD Investment to have liquidators appointed over its failure to repay a $3.85 million (USD 2.29 million) debt.
Documents filed with the Australian Securities and Investments Commission show KordaMentha’s Richard Tucker and Jared Palandri were appointed as administrators to the Perth-headquartered company and nine of its subsidiaries on Monday.
The documents show a first meeting of the creditors will be held on 17 April 2025 to consider the company’s immediate future.
IGE, formerly Infinite Blue Energy, is behind the Arrowsmith hydrogen project planned for the central coast of Western Australia. The developer has laid out plans to build up to 5 GW of renewable energy capacity at the site to produce more than 100,000 tonnes of green hydrogen per annum for the domestic and international markets.
The company has also partnered with Samsung C&T and Doral Energy to develop a demonstration green hydrogen production facility at Northam. The MEG HP1 project, which would leverage the 11 MW Northam Solar Farm that IGE owns and operates, was to produce 4.4 tonnes of hydrogen a day from two 5 MW electrolysers.
IGE has also teamed with Swiss renewable energy producer Axpo to develop a green hydrogen project in central Italy. The proposed Valle Peligna project includes a 30 MW electrolyser powered by a 45 MW solar farm. The production facility was expected to deliver about 12 tonnes of green hydrogen per day.
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