The Albanese Government has pledged $70 million to support the development of a renewable hydrogen hub in Townsville.
The competitive Townsville Region Hydrogen Hub program will deliver funds towards projects that accelerate the development of a hydrogen industry in North Queensland.
Prime Minister Anthony Albanese said that a thriving hydrogen industry in North Queensland would be critical for Australia’s push to becoming a renewable energy superpower.
“The hub will help secure jobs and economic growth in Queensland, delivering on one of our key commitments, and could also pave the way for exports to our valued trading partners in Japan, South Korea and across Asia,” said Albanese.
Minister for climate change and energy Chris Bowen shared similar sentiments, stating that green hydrogen will help create jobs for technicians, tradespeople, and engineers, as well as significant opportunities in related businesses and service industries.
“It is important that we support hard-to-abate sectors, including heavy industry and transport, to reduce their emissions and achieve net zero by 2050,” said Bowen.
“These regional hubs will give our green hydrogen industry an early-stage springboard to scale, which will help to promote further growth and investment in clean technology.”
With matched funding, the region will see a $140 million investment in renewable hydrogen for the state’s use or to export as fuel, energy generation and storage, or as a chemical feedstock.
The government’s investment in hydrogen hubs is now more than $525 million, including the $454 million Regional Hydrogen Hubs program for projects in places like Gladstone, the Hunter Valley, the Pilbara, Port Bonython, and Bell Bay.
By 2050, Australia’s hydrogen industry could generate $50 billion in additional GDP and create over 16,000 jobs, as well as an additional 13,000 jobs from the construction of renewable energy infrastructure to power the production of green hydrogen.