Australia’s largest investment in hydrogen has been announced today, with $117 million committed to Queensland’s renewable hydrogen project.
According to the Queensland Government, the Central Queensland Hydrogen (CQ-H2) project could produce 800 tonnes per day of green hydrogen by the early 2030s, equivalent to fuelling more than double Australia’s heavy vehicle fleet.
The historic $117 million investment will fund the Front End Engineering Design (FEED) for Queensland’s largest renewable hydrogen project in Gladstone.
The successful completion of the FEED will bring the project one step closer to a Final Investment Decision, planned for late 2024.
The CQ-H2 project will be powered by renewable energy like wind and solar, and will complement other planned investments in the Gladstone region, including the Federal Government’s Regional Hydrogen Hubs program.
Federal Minister for Climate Change and Energy, Chris Bowen, said projects like this are critical to scaling up Australia’s green hydrogen industry.
“The government is committed to making Australia a global hydrogen leader and projects like the CQ-H2 Project could lead the way in exporting renewable hydrogen to the international market,” he said.
“Japan, Korea and China are three of our largest trading partners and have all made clear commitments to increase the use of hydrogen, with a focus on establishing international supply chains for imports.”
The Australian Renewable Energy Agency (ARENA) will provide $20 million in funding, while $15 million will be provided from the Queensland Government.
The remaining $81.8 million will be provided by consortium partners.
“Green hydrogen is the next resource frontier for a world hungry for renewables, and it’s Queensland’s green hydrogen industry that will ensure the greatest climate, jobs, and export opportunity in a generation,” said Mick de Brenni, Queensland Minister for Energy, Renewables and Hydrogen.
“We are writing a new chapter and carving our own path to ensure Queensland’s mighty sun, wind and water are leveraged to help decarbonise our nation, and the world.”
