The federal and South Australian governments have finalised a grant agreement to develop the Port Bonython Hydrogen Hub near Whyalla, South Australia.
Together, both governments are investing $100 million to develop infrastructure at Port Bonython and prepare it to become SA’s first large-scale export terminal for hydrogen.
Along with private sector funding, the redeveloped Port Bonython is expected to host projects worth up to $13 billion and projected to generate as much as 1.8 million tonnes of hydrogen by 2030.
The federal government’s vision is to build a clean, innovative, safe and competitive hydrogen industry that benefits all Australians. It’s investing over half a billion dollars for regional hydrogen hubs including in Pilbara, Kwinana, Gladstone, Townsville, the Hunter, Bell Bay and Upper Spencer Gulf.
The recent Commonwealth Budget allocated $2 billion for a new Hydrogen Headstart program to scale up development of Australia’s renewable hydrogen industry.
Australian Prime Minister Anthony Albanese says the global shift to clean energy and decarbonised economies are a huge economic opportunity for Australia.
“We’re determined to grasp this opportunity and are investing half a billion dollars into regional hydrogen hubs all around Australia,” he says.
South Australian Premier Peter Malinauskas says SA is blessed with the key ingredients the world needs to decarbonise international economies, pointing to “abundant coincident wind and solar resources, critical minerals, strong renewable energy penetration, and well-developed industrial hubs”.
“Through our Hydrogen Jobs Plan, my government is seizing the mantle to produce a world leading hydrogen electrolyser, power plant and storage facility,” he says.
“We’re working closely with industry to maximise this opportunity to grow a new industry, which has potential to create thousands of jobs and improve the standard of living for South Australians for generations to come.”
By 2050, Australia’s hydrogen industry is projected to generate $50 billion in additional GDP and create over 16,000 jobs in regional Australia. The industry is also expected to create an additional 13,000 jobs from the construction of renewable energy infrastructure to power the hydrogen production.
