New South Wales unveils hydrogen strategy
New South Wales (NSW) government has launched the NSW Hydrogen Strategy and expects the state to attract more than A$80bn ($58.8bn) investment in the sector, it said on October 13.
Premier Dominic Perrottet said as NSW worked through post-lockdown recovery, hydrogen was an opportunity to drive new investment and help secure jobs right across the state.
“Australia has an opportunity to be an energy superpower, New South Wales will lead the country with this hydrogen strategy,” Perrottet said. “Our major trading partners see hydrogen as part of their energy future, this state has the skills, infrastructure and renewable energy resources to compete globally in this new industry.”
Treasurer and energy minister Matt Kean said the strategy, which will provide up to A$3bn in incentives, will set the state up as a global hydrogen leader and is forecast to increase the size of the NSW economy by more than A$600mn by 2030.
“Hydrogen will not only help the state halve our emissions by 2030 and get to net-zero by 2050, it will create new opportunities for our heavy industry, and an economic bonanza of investment and jobs,” Kean said.
In addition to delivering an already committed A$70mn to develop the state’s hydrogen hubs in the Illawarra and the Hunter, the strategy includes exemptions for green hydrogen production from government charges, a 90% exemption from electricity network charges for green hydrogen producers who connect to parts of the network with spare capacity. The strategy also offers incentives for green hydrogen production and roll out of a hydrogen refuelling station network across the state.
Companies can submit an expression of interest to participate in the hydrogen hubs by the end of October, the state government said.