New South Wales hydrogen strategy to boost investment, create jobs and fuel prosperity
Prime Minister Dominic Perrottet said that NSW was working on recovery after the lockdown, hydrogen was an opportunity to generate new investment and help secure jobs statewide.
“Australia has the opportunity to be an energy superpower, New South Wales will lead the country with this hydrogen strategy,” said Perrottet.
“Our major trading partners see hydrogen as part of their energy future, this state has the skills, infrastructure and renewable energy resources to be globally competitive in this new industry.”
NSW Regional Deputy Premier and Minister Paul Toole said hydrogen was a huge opportunity for Regional NSW.
“We know that regional economies are diversifying and the NSW Government’s hydrogen strategy is bringing that to life,” Toole said.
âPlaces like Parkes, Illawarra and Upper Hunter are uniquely positioned to take advantage of these opportunities, with existing supply lines, access to transport links and a skilled workforce ready to go. of the regional NSW a leader in hydrogen technology. “
Treasurer and Energy Minister Matt Kean said the strategy, which will provide up to $ 3 billion in incentives, will make the state a world leader in hydrogen and is expected to increase the size of the New South Wales economy of over $ 600 million by 2030.
“Hydrogen will not only help the state to halve our emissions by 2030 and achieve net zero by 2050, but it will create new opportunities for our heavy industry and an economic windfall of investment and development. ‘jobs,’ Mr. Kean said.
“This strategy is expected to cut the cost of producing green hydrogen in New South Wales by more than half and will make New South Wales the best place to invest in hydrogen in the world.”
Fortescue Future Industries President and Founder Dr Andrew Forrest AO said: âI am delighted with NSW’s historic hydrogen strategy and ambition to establish itself as an energy and economic superpower.
âNSW holds a leadership position in the state in providing clear pathways on how renewable hydrogen can deliver to Australian businesses, Australian jobs, communities and our children’s futures.
âAt FFI, we are doing everything we can as a company to lead the global effort to reduce emissions. We plan to deliver 15 million tonnes of renewable green hydrogen to the world by 2030, which will increase to 50 million tonnes per year thereafter.
âWe are committed to working with the government of New South Wales to support their ambitions and jointly develop green hydrogen hubs. “
In addition to providing $ 70 million already committed to develop the state’s hydrogen hubs in Illawarra and Hunter, the strategy includes:
- Exemptions for the production of green hydrogen from government royalties;
- A 90% exemption from electricity network charges for green hydrogen producers who connect to parts of the network with unused capacity;
- Incentives for the production of green hydrogen; and
- A network of hydrogen refueling stations will be deployed across the state.
The company will have to submit an expression of interest to participate in the hydrogen poles by the end of October.