NSW’s Hunter and Illawarra Hydrogen Hubs have received a major boost with more than $4 billion in potential investment proposed in response to a recent call for expressions of interest.
Acting NSW Premier, Paul Toole said the surge in commercial interest showed how much the regions were set to benefit with renewable energy and new low carbon technologies.
“Hydrogen Hubs will provide huge economic benefits for the Hunter and Illawarra, helping to secure jobs of the future,” Mr Toole said.
“It also represents a huge export potential for our state, with the international market for green hydrogen expected to meet 24% of the global energy demand by 2050, estimated to be worth $900 billion.”
NSW Treasurer and Energy Minister, Matt Kean said the overwhelming response included private sector plans to develop up to 5900MW of electrolyser capacity, more than eight times the state’s 700MW target.
“The market has spoken. This is an overwhelming level of commercial interest and it shows our policies are sending the right signals to energy investors, making NSW the go to state for energy investment,” Mr Kean said.
“Twenty-one individual projects have told us they want to produce almost 268,000 tonnes of green hydrogen each year, which is enough to fuel 26,000 trucks. Hydrogen is integral to decarbonising many parts of the economy, including heavy industry and heavy transport.”
The NSW Government has committed $70Â million to accelerate the development of Hydrogen Hubs in NSW, starting with the Hunter and Illawarra.
To learn more see Developing hydrogen hubs for NSW.
