The Port of Newcastle Green Hydrogen Hub Project received a further vote of confidence following an announcement that the project would receive $41 million in Federal Government funding.
Minister for Industry, Energy and Emissions Reduction, Angus Taylor, announced the funding on April 28 and said it would support the hub’s Phase 1 construction.
The funding announcement positions Port of Newcastle as a leading site to establish a hydrogen hub, with connectivity to domestic and export infrastructure, proximate demand and access to renewable energy.
Port of Newcastle CEO, Craig Carmody said the funding was a vote of confidence by the Federal Government, recognising the role of the Port as a key player in the emerging green hydrogen economy.
“The significance of this funding cannot be understated,” Carmody said.
“By 2025, we hope to have Phase 1 of the Hydrogen Hub complete, which will benefit a range of local industries and position the Hunter Region to be a key player in the emerging hydrogen opportunity.
“This funding also complements the recent $100 million in Federal Government funding for hydrogen readiness, which will focus on preparing the land and infrastructure, while the DISER funding provides the platform for a ready transition to Phase 1 construction.”
The project is a joint venture with Macquarie Capital and Macquarie’s Green Investment Group and is currently progressing through an ARENA funded feasibility study.
It is also being developed with a phase one minimum 40MW electrolyser, which over time could increase to a capacity of 1 GW.
A range of project partners have worked on the project, developing a comprehensive range of uses for green hydrogen in the Hunter, which builds on the region’s strong industrial heritage.
These include mobility, bunkering, energy production and industrial uses at the scale necessary to position the Hunter at the centre of the emerging global green hydrogen opportunity.
Federal Member for Newcastle, Sharon Claydon, welcomed the funding for the hydrogen hub and said Labor would match the commitment.
“We question whether this Government can be trusted to deliver on hydrogen when multiple coalition members are openly scathing of the industry—the Government waged a war on Labor’s hydrogen policy at the last election,” Claydon said.
“Direct support for hydrogen hubs, production and storage are important but it’s only part of the picture, demand for green hydrogen is directly linked to the energy policy certainty and ambitious climate policy.”
Information source: Port of Newcastle