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Take 5: An interview with… Alan Yu, co-founder & Chief Investment Officer of Providence Asset Group

Take 5: An interview with… Alan Yu, co-founder & Chief Investment Officer of Providence Asset Group

Thanks for taking five with H2 View. This month is our Power issue and we’re interested to hear your thoughts on Power-to-X. Firstly, what projects are Providence Asset Group involved in in this field?

Providence Asset Group is building the largest community based solar farm portfolio in Australia – we have 11 solar farms in operation and a further 29 under development. Each solar farm will integrate with utility scale hydrogen storage system, combined with short use lithium-ion batteries, supports grid stability, keeping the supply strong and steady, but always ready for spikes in demand. This fusion of hydrogen and battery technologies provides the instantaneous support of batteries with the lower long-term cost of hydrogen based energy storage.

Power-to-X could solve one of the energy transition’s biggest hurdles: storage. Why don’t you tell us a little about this and the other advantages of the technology?
Based on hydrogen production from renewable power sources the LAVO patented metal hydrides act as a “solar energy sponge” to store the hydrogen safely. The hydrogen can then be passed through a fuel cell, creating water for recycling and electricity to supply 24/7 power to the grid and the community.

LAVO|HEOS is the world’s first commercially ready hydrogen production and energy storage system at an industrial scale. It is containerised metal hydride green hydrogen storage solution as the enabler for community decarbonation and decentralised energy solution and also for future hydrogen export – target large utility and industrial users. All Providence Asset Group solar farm portfolio in Australia will integrate with LAVO|HEOS solution.

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