Fuel retailer receives $100m to cut transport emissions – pv magazine Australia

August 2, 2024 Eva Foley

New South Wales-based transport energy provider Ampol has received a $100 million ($65.1 million) investment from the Clean Energy Finance Corporation (CEFC).

The funds are intended to help decarbonise the transport sector by building electric vehicle (EV) charging stations, installing rooftop solar panels, green hydrogen refuelling and developing alternative energy sources such as biofuels and sustainable aviation fuel (SAF).

Ampol has already started installing 110 EV charging stations at 19 existing petrol stations on major commuter routes. They are equipped with 300 kW fast chargers.

The Company also announced a Memorandum of Understanding (MoU) with global firm International Financial Management (IFM) Investors and Australian agribusiness giant Graincorp to create an integrated renewable fuels sector in Australia.

The agreement initiates a feasibility study for a renewable SAF and diesel facility at Ampol’s Lytton refinery in Brisbane and collaboration with Graincorp to explore options for the supply of feedstocks to the future facility.

CEFC executive director of alternative fuels Rupert Maloney said CEFC capital was important because it helped overcome challenges in sectors such as transport that were hard to address.

“We are pleased to provide flexible financing that will enable Ampol to make long-term investment decisions to deliver on its future energy and decarbonisation strategies,” Maloney said.

“By developing solutions that help customers reduce their emissions, Ampol is taking on the challenge of decarbonising the Australian transport sector and helping to reduce domestic emissions.”

Citing Australia’s December 2023 quarterly update of its national greenhouse gas inventory, the CEFC says the transport sector accounts for 23 per cent of national emissions, which the federal government predicts will be the largest source of emissions by 2030 if no further action is taken.

Ampol CEO and Managing Director Matt Halliday said Ampol was proud to be working with CEFC to deliver solutions that will support customers’ energy transition.

“We are committed to working with government, our partners and our customers to invest in solutions for the energy transformation that lies ahead for all of us,” Halliday said.

CEFC CEO Ian Learmonth said established industry players such as Ampol were playing a significant role in the transition to cleaner alternative fuels.

“After more than a century of moving drivers and goods across the country, Ampol is perfectly placed to help Australia create a new transport network powered by renewable energy and fit for the future,” Learmonth said.

“By leveraging Ampol’s extensive critical infrastructure, including fuel stations, storage and distribution of liquid fuels, as well as supply chain links with the maritime, agricultural, mining and aviation sectors, this investment will demonstrate how fuel companies can contribute to solving the transport emissions challenge.”

The number of electric vehicles in Australia more than doubled in 2023 compared to the previous year and accounted for about 8% of new car sales in May 2024. There are now more than 180,000 electric vehicles in service and there are 900 fast and ultra-fast public EV charging stations across the country with 2,000 available charging sockets.