The projects will utilise the region’s strong resources and export capabilities to produce clean hydrogen for use both here at home and across the world, and create highly skilled long term jobs.
Part of the Clean Hydrogen Industrial Hubs program, the funding announced today will add $41 million to the Port of Newcastle’s Hydrogen Hub project, with a total value of $163nmillion.
Origin Energy Future Fuels Pty Ltd’s Hunter Valley H2 Hub ImplementationnProject will also benefit, receiving $41 million for a total project value of over $200 million.
This funding is complemented by the $100 million committed in the 2022-23 Budget to support pre-Final Investment Decision activities and early works to make the Port of Newcastle’s infrastructure ‘hydrogen ready’.
The Hunter hydrogen projects are estimated to create over 2300 jobs when operational with even more local construction jobs possible through the port upgrades.
Minister for Industry Energy and Emissions Reduction Angus Taylor said the Hunter region provides great potential for both hydrogen production and export opportunities with Newcastle being the biggest port on the east coast.
“Both of these hub projects are backed by significant private sector funding and have strong industry partners here and overseas. These multi-million-dollar commitments show the faith both industry and government have in the Hunter” Minister Taylor said.
“With existing supply chains to key consuming countries such as Japan and high future local hydrogen demand for uses such as electricity generation gas blending and transport the Hunter is a highly competitive location for a clean hydrogen hub.”
Government projections suggest clean hydrogen exports could directly support 16000 jobs by 2050plus an additional 13000 jobs in renewable energy infrastructure construction. Clean hydrogen production for both export and domestic use could generate more than $50 billion in additional GDP by 2050.
