Minister for Industry, Energy and Emissions Reduction, Angus Taylor, said the Port of Newcastle Green Hydrogen Hub Project will receive $41 million.
The project is a joint venture with Macquarie Capital and Macquarie’s Green Investment Group, and is currently going through an ARENA funded feasibility study. The project is being developed with a phase one minimum 40MW electrolyser that over time could increase to a capacity of over 1 GW.
The project has been working with various partners to develop a variety of use cases for green hydrogen in the Hunter, which build 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 global green hydrogen opportunity.
The funding announcement positions Port of Newcastle as a leading site to establish a hydrogen hub, providing domestic and export infrastructure, proximate demand and access to renewable energy.
Port of Newcastle CEO, Craig Carmody, said the funding is a vote of confidence by the Federal Government, which recognises the Port’s role as a key player in the emerging global green hydrogen economy.
“The significance of this funding cannot be understated,” he said.
“By 2025, we hope to have Phase 1 of the Hydrogen Hub complete, which will benefit a range of local industry 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.”
Macquarie Green Investment Group Global Head of Industrial Transition and Clean Fuels, Kate Vidgen, said the announcement demonstrates Newcastle’s ability to deliver.
“The importance of hydrogen as a decarbonisation pathway continues to emerge globally,” she said.
“Successful projects will rely on strategic sites with local demand and clear paths for scale over time and today’s announcement underscores Newcastle’s world-class capability in this field.”
In related news, more than $4 billion in potential investment has been proposed in response to a recent call for expressions of interest for the the Hunter and Illawarra Hydrogen Hubs.