In a significant development for Australia’s renewable energy sector, the Australian Workers’ Union (AWU) has expressed strong support for a new Memorandum of Understanding (MOU) signed by IFM Investors, Ampol, and GrainCorp.
This agreement aims to explore the establishment of low-carbon fuel production facilities in Australia, marking a pivotal step towards reducing the nation’s reliance on imported fuels and enhancing energy security.
The announcement aligns with ongoing government consultations on how best to support the burgeoning renewable fuels industry.
The AWU is advocating for substantial government investment to harness Australia’s potential as a leader in green fuel production.
AWU National Secretary Paul Farrow emphasised the importance of this initiative in securing over 500 jobs at Ampol’s Lytton refinery in Brisbane and potentially creating thousands more in the future.
“Today’s MOU between IFM, Ampol, and GrainCorp is an important first step to creating a world-leading renewable fuel industry,” said Farrow.
He highlighted the risks associated with Australia’s current dependence on imported fuels and the opportunity to leverage domestic resources and expertise to produce green fuel more cost-effectively than other countries.
Queensland Branch Secretary Stacey Schinnerl also underscored the strategic importance of this investment for the state’s economic future.
The MOU positions Ampol’s Lytton site as a key player in the development of a renewable fuels industry in Queensland, which is critical for the broader Australian economy.
The MOU will see Ampol and IFM Investors conduct a feasibility assessment for a renewable fuels facility at the Lytton Refinery, with GrainCorp exploring the supply of homegrown feedstocks.
This initiative is part of a broader effort to develop a sustainable aviation fuel (SAF) and renewable diesel (RD) production capacity in Australia, addressing the transport sector’s emissions and enhancing energy security.
Australia’s competitive advantage in infrastructure, technical expertise, and raw material availability positions it well to develop a renewable fuels capability.
The collaboration between Ampol, IFM, and GrainCorp brings together expertise in infrastructure development, manufacturing, distribution, and supply chains, setting the stage for a robust renewable fuels ecosystem in the country.
As the government deliberates on measures to support this industry, the AWU’s call for action highlights the potential economic and environmental benefits of establishing a domestic renewable fuels industry, which could significantly contribute to Australia’s energy transition and regional development.