The Electricity Infrastructure Investment Bill has been passed by the NSW Parliament today, which includes a guaranteed $50 million in funding over the next decade to develop the green hydrogen energy sector together with low-cost renewables.
The bill states that parts of NSW will be designated renewable energy zones (REZ) allowing new investments in wind and solar projects to be coordinated alongside new investments in transmission network infrastructure.
The Australian Hydrogen Council (AHC) welcomed the Electricity Infrastructure Investment Bill’s passing, with CEO Dr Fiona Simon stating that the AHC is delighted to see New South Wales take another step towards improving the affordability, reliability, security and sustainability of NSW electricity supply, and forging ahead with its plan to build a green hydrogen industry.
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“On behalf of the AHC, I welcome the new funding announcement which further demonstrates the NSW Government’s commitment to developing hydrogen technologies that can create jobs and lower emissions,” Dr Simon said.
“This investment is a step in the right direction not only for the hydrogen industry but towards Australia’s commitment to meeting and beating our emissions reduction targets as well.
“This Bill is an example of how we can harmonise investments in wind and solar projects with new investments in transmission network infrastructure.
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“Important foundations have been laid, and the next step is to do the detailed planning of projects and infrastructure that will turn strategy into reality.
“The AHC has huge enthusiasm and appetite to develop the hydrogen industry in NSW and look forward to working with NSW Government on the implementation of this.”