The Palaszczuk Government has committed $15 million to support development of a publicly owned, large-scale hydrogen export facility in Gladstone.
Deputy Premier Steven Miles – who just returned from Japan to promote investment opportunities in Queensland’s renewable energy – says the funding will support development of a large-scale electrolysis and liquefaction project in Central Queensland.
“Queensland is powering ahead in the new, global renewable energy era, in fact we are setting the pace,” he said.
“And today we are taking another significant step towards cementing Queensland’s standing as a global green hydrogen powerhouse.
“This investment in publicly owned energy corporation Stanwell will support front-end engineering and design studies for a project that could eventually be the largest renewable hydrogen project in Queensland.
“It has the potential to scale up to produce 800 tonnes per day of clean, green hydrogen by the early 2030s.
“The State Government is sending a very clear message, especially to our partners in Japan, that Queensland is the ideal international supplier for reliable, affordable and clean energy.”
Treasurer and Minister for Trade and Investment Cameron Dick said the 2022-2023 Budget commitment will support planning for Queensland’s largest hydrogen project and could create thousands of jobs.
“Stanwell’s Gladstone project, being developed with international partners including Iwatani Corporation, Kawasaki Heavy Industries, Kansai Electric Power Company and Marubeni, and Australian energy infrastructure business APA Group, could be the catalyst to create up to 8900 new jobs,” the Treasurer said.
“It could deliver more than $17.2 billion in hydrogen exports and $12.4 billion to Queensland’s gross domestic product over its 30-year lifespan.”
Minister for Hydrogen Mick de Brenni said global markets were increasingly hungry for green hydrogen to help meet their decarbonisation ambitions.
“Every credible expert is saying that renewable energy is the biggest opportunity since the industrial revolution,” he said.
“And Queensland, with its abundance of sunshine, wind and potential for pumped hydro energy storage, is in prime position to satiate an increasingly hungry world hydrogen market.
“This $15 million in fast-tracked funding – through the $2 billion Queensland Renewable Energy and Hydrogen Jobs Fund – will also help future planning for supply chain and workforce opportunities.
“It builds on a feasibility study already completed into the Gladstone project, which would also supply large industrial customers in the Central Queensland region.
“This new funding will help provide the detail required to support a final investment decision,” said Mr de Brenni said.