The Federal and South Australian Governments have finalised a grant agreement to develop the Port Bonython Hydrogen Hub near Whyalla, which will create regional jobs and bring Australia another step closer to becoming a renewable energy superpower.
Together, both governments are investing $100 million to develop infrastructure at Port Bonython and prepare it to become South Australia’s first large-scale export terminal for hydrogen.
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Along with private sector funding, the redeveloped Port Bonython is expected to host projects worth up to $13 billion and projected to generate as much as 1.8 million tonnes of hydrogen by 2030.
With expanses of available land, abundant solar and wind resources, South Australia is primed to become a world-class, low-cost hydrogen supplier and the SA Government has a comprehensive plan to develop a hydrogen industry in the Spencer Gulf, including through its Hydrogen Jobs Plan, which will include development of a hydrogen electrolyser, power station and storage facility.
The Australian Government is investing over half a billion dollars for regional Hydrogen Hubs including in Pilbara, Kwinana, Gladstone, Townsville, the Hunter, Bell Bay and Upper Spencer Gulf.
The recent Commonwealth Budget allocated $2 billion for a new Hydrogen Headstart program to scale up development of Australia’s renewable hydrogen industry. This critical new investment is all about making Australia a global leader in green hydrogen, as competition for clean energy investment accelerates around the world.
By 2050, Australia’s hydrogen industry is projected to generate $50 billion in additional GDP and create over 16,000 jobs in regional Australia. The industry is also expected to create an additional 13,000 jobs from the construction of renewable energy infrastructure to power the hydrogen production.
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Minister for Climate Change and Energy Chris Bowen said, “Investing in an Australian green hydrogen industry puts us on a path to become a renewable superpower.
“Green hydrogen will play a crucial role in our clean energy transformation and will create jobs and spur investment in regional Australia.”