Tasmania to open new funding round for renewable hydrogen industry development program
A call for registrations of interest for Round Two funding is expected in October 2023.
Tasmanian Minister for Energy and Renewables, Guy Barnett, said this week that building a domestic renewable hydrogen capability will strengthen Tasmania's net zero emissions status and competitive advantage.
The Tasmanian Renewable Hydrogen Action Plan sets out a vision for the state to capitalise on its existing and expandable renewable energy resources to become a world-leader in large-scale renewable hydrogen production for domestic use and export.
The Tasmanian Government has developed a $50 million package of support measures over 10 years. This includes a $20 million Tasmanian Renewable Hydrogen Fund, $20 million in concessional loans, and $10 million in support services including competitive electricity supply arrangements and payroll tax relief.
Foreshadowing the impending announcement of a new round of funding under the Renewable Hydrogen Industry Development Fund, Mr Barnett said the financial commitment by the government will help stimulate domestic green hydrogen capability as Tasmania progresses towards establishing commercial-scale production of green hydrogen by 2025.
“This second round of our Renewable Hydrogen Industry Development Fund will specifically look to fund domestic production and use of green hydrogen at a scale in the order of 5-10MW to stimulate local demand and kick-start this new industry,” Mr Barnett said.
“The development of a domestic market for the use of locally produced renewable hydrogen will play a critical role in establishing a viable renewable hydrogen industry in Tasmania."
“To secure funding, proponents will need to be able to commit to commencing production in 2025, provide evidence of their market for the green hydrogen produced and demonstrate a pathway to commercial sustainability."
“The first round of the program supported feasibility studies by Grange Resources, Origin Energy and ABEL Energy, all of which have found strong potential for the industry in Tasmania."
A call for registrations of interest for Round Two funding is expected in October 2023.
