This strategy is Perrottet’s first major cabinet decision as premier since Gladys Berejiklian stood down from the helm.
“Australia has an opportunity to be an energy superpower, NSW will lead the country with this hydrogen strategy,” the new Premier said.
The Fortescue Future Industries chair Andrew Forrest has backed the state’s blueprint, urging governments around the country to follow the lead of NSW and Queensland on their uptake of renewable hydrogen.
The NSW government anticipates the strategy will attract more than $80 billion in investment in clean energy by 2050.
Perrottet said the plan would create tens of thousands of jobs while securing the state’s future as an energy superpower.
“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,” he said.
The Australian Hydrogen Council has applauded the New South Wales Government on its hydrogen strategy, with chief executive officer (CEO) of the council Dr Fiona Simon describing the milestone as a significant step in energy policy.
“This kind of strategy will draw through huge amounts of investment needed to secure local jobs of the future, from now,” said Simon.
“Plans and funding like this will mean Australia should not miss the boat on international opportunities and instead, will be well positioned to be a leading producer and user of hydrogen in Australia and globally.”
Simon added that the hydrogen industry will require large scale electrolyses, renewable electricity, water and water pipelines, electricity infrastructure and hydrogen pipelines.
Planning, with the right funding and targets, is a vital part of getting the industry to scale.
Companies like Jemena have already welcomed the commitment, calling the decision a key step towards unlocking Australia’s potential to provide renewable gas to the rest of the world.
Jemena’s executive general manager of networks Shaun Reardon said the strategy is a great recognition of hydrogen’s role as a game changer for not only the energy sector, but the whole of the NSW economy.
“Projections also show that if Australia repurposes its existing gas infrastructure to decarbonise the economy, it will be about half the cost of building and maintaining huge amounts of additional electricity infrastructure.”
Jemena is currently investing more than $30 million in partnership with The Australian Renewable Energy Agency on various renewable gas projects.
For more information visit the NSW Government website.