The Australian government said it will fast-track a vast project that aims to become the planet’s biggest producer of renewable power, and which its developer said could help make Australia “the Saudi Arabia of green hydrogen”.

The Asian Renewable Energy Hub (AREH) in Western Australia aims to install 15GW of wind and solar in its first stage alone, with most of that used to power electrolysis for hydrogen and ammonia production.

The A$22bn ($15.8bn) AREH project, which could eventually reach 22GW, is being developed by a consortium consisting of investment group Macquarie, wind turbine maker Vestas, and developers Intercontinental Energy and CWP Energy Asia.