The government of Australia has approved an AUD-150-million (USD 107.7m/EUR 94.8m) programme to support the country’s hydrogen export industry and attract overseas investment in local supply chains.
The first round of the so-called Australian Clean Hydrogen Trade Programme (ACHTP) will focus on the export of clean hydrogen to Japan under a partnership supporting the decarbonisation of the two countries through technology. It will target projects that develop Australia’s export supply chains by commercialising the production of clean hydrogen and derivative clean hydrogen-based compounds, such as clean ammonia, the Morrison Government said on Thursday.
Funding for the projects will be provided over five years and will be sourced from the country’s 2021-22 Budget in which AUD 565.8 million has been earmarked for low emissions technology international partnerships. The schemes should also secure overseas public or private sector investment.
The Aussie government estimates that hydrogen production for export and local use could bring over AUD 50 billion in additional gross domestic product (GDP) by 2050. The clean hydrogen sector is also expected to directly support 16,000 jobs by 2050.
“It is critical that we work closely with our international partners such as Japan to deliver on Australia’s low emissions objectives,” said Prime Minister Scott Morrison.
Source: Renewables Now.