The Hunter and Illawarra Hydrogen Hubs have received a major boost with more than $4 billion in potential investment proposed in response to a recent call for expressions of interest.
Acting Premier Paul Toole said this huge commercial interest shows how much the regions are set to benefit with renewable energy and new low carbon technologies.
“Hydrogen Hubs will provide huge economic benefits for the Hunter and Illawarra, helping to secure jobs of the future,” Mr Toole said.
“It also represents a huge export potential for our state, with the international market for green hydrogen expected to meet 24% of the global energy demand by 2050, estimated to be worth $900 billion.”
Treasurer and Energy Minister Matt Kean said the overwhelming response includes private sector plans to develop up to 5900MW of electrolyser capacity, more than eight times our 700MW target.
“The market has spoken. This is an overwhelming level of commercial interest and it shows our policies are sending the right signals to energy investors, making NSW the go to state for energy investment,” Mr Kean said.
“Twenty-one individual projects have told us they want to produce almost 268,000 tonnes of green hydrogen each year, which is enough to fuel 26,000 trucks. Hydrogen is integral to decarbonising many parts of the economy, including heavy industry and heavy transport.”
The NSW Government has committed $70 million to accelerate the development of Hydrogen Hubs in New South Wales, starting with the Hunter and Illawarra.
Hydrogen Hubs will be pivotal in helping NSW scale up the emerging green hydrogen industry by working with industry to support innovation and minimise the cost of infrastructure. To learn more see Developing hydrogen hubs for NSW.
