Joint Renewable Hydrogen Funding a Win for Regional Queenslanders
26 May 2023: Joint Renewable Hydrogen Funding a Win for Regional Queenslanders
Solar Citizens today celebrates the announcement that the Australian and Queensland governments have joined partners to contribute $117 million towards establishing Gladstone’s green hydrogen industry.
The funding will go towards the Front EndEngineering Design (FEED) for Stanwell Corporation’s Central Queensland Hydrogen (CQ-H2) project – which is expected to create almost 9,000 jobs and over $17.2 billion in hydrogen exports over its 30-year life.
“To set up regional Queensland to have a prosperous, future-proof economy, we need to be investing in new clean industries like renewable hydrogen production,” said Stephanie Gray, Deputy Director of Solar Citizens.
“Australia has the natural advantages to establish new clean manufacturing and renewable hydrogen industries, like world-class solar and wind resources and the minerals needed to make battery materials. But at the moment we’re being outdone by overseas governments.
“The US Inflation Reduction Act and similar initiatives in Europe have set a high bar that Australia has to compete with. That’s why we want to see the investments in clean industry keep coming from the Australian and Queensland governments.
“Analysis by Deloitte estimates that Australian governments will need to allocate at least $15 billion over the coming decade to stay competitive with international hydrogen subsidies.
“We also need to make sure that there’s enough renewable energy coming online to meet the electricity needs of new industries. The Queensland Energy and Jobs Plan released last year is a great first step, but now it’s time to build more publicly-owned clean energy projects to enact the plan.
“Regional Queenslanders have been powering the world with energy exports for decades. Now is the moment to invest in new clean industries so we can continue to power the world as it decarbonises.”
Media contact: Stephanie Gray 0425543006