The State Government says a hydrogen industry in Tasmania will create hundreds of jobs
The State Government has put a figure on its plan to create a renewable hydrogen export industry in Tasmania.
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THE State Government will spend $50 million over the next decade in a bid to set up a Tasmanian green hydrogen industry.
In November the Government released a long-awaited Tasmanian Renewable Hydrogen Action Plan, hoping to grab a slice of an export market estimated to be worth up to $13.4 billion by 2040.
Premier Peter Gutwein will on Monday announce the State Government will back up the plan with $50 million.
“To kickstart the renewable hydrogen industry in Tasmania, we will invest $20 million through a Tasmanian Renewable Hydrogen Fund, provide up to $20 million in concessional loans and up to $10 million in support services which include competitive electricity supply arrangements and payroll tax relief,” Mr Gutwein said.
“Our vision is to have a renewable hydrogen generation facility up and running in Tasmania by 2022-2024, and to be commercially exporting hydrogen by 2030, creating hundreds of local jobs and injecting billions into the Tasmanian economy.”
“Green” hydrogen is produced when renewable energy is used to electrolyse hydrogen from water to be used by the transport industry as a substitute for natural gas, for electricity generation or in industry.
The Government has identified Bell Bay and Burnie as sites for hydrogen hubs, with plans to use existing resources and infrastructure.
Energy Minister Guy Barnett said commercial hydrogen could be produced in Tasmania by 2024.
The $50 million will be allocated through a competitive Expression of Interest process, due to open in the coming weeks, which will align with the Federal Government’s $70 million hydrogen funding.
A hydrogen industry would allow Tasmania to export the state’s renewable energy direct to international markets.
The Government has held discussions with emerging industries in Japan, South Korea and China seeking emissions-free hydrogen at competitive rates.
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