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CEFC poised for first investment in hydrogen
May 26, 2021 â 12.01am
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The countryâs green bank is nearing its first investment in the hydrogen sector as a landmark report for the bank found green hydrogen is already almost cost-competitive for long-distance trucks, buses and remote power but will take much longer for some sectors of industry.
Clean Energy Finance Corporation chief executive Ian Learmonth said the bank is in the late stages of investigating an Australian electrolyser technology company that has the potential to dramatically improve the efficiency of green hydrogen production.
A deal is anticipated within a few weeks.
[co-authors: Lilly May, Michael Kralic]
There have been a number of policy and funding developments applicable to the hydrogen energy industry in Australia since the release of K&L Gates
The H
2 Handbook in October last year. These developments have come at both commonwealth and state level and highlight the current governmental appetite to foster the emerging Australian hydrogen industry and to position Australia as a global hydrogen leader.
This article reflects on the state of play across Australia, providing a high level consolidated overview of these updates and supplementing the Australian chapter of
The H
Australian Policy Updates
New South Wales
NSW) Government published the NSW Net Zero Industry and Innovation Program (
Program) as part of the NSW Net Zero Plan Stage 1: 2020-2030, which aims to achieve a 35% reduction in emissions compared to 2005 levels. AU$750 million will be invested under the Program by 2030 to help realise that aim.
The Program has three areas of focus:
Clean Technology Innovation - supporting the development of emerging clean technologies, including hydrogen. AU$195 million has been earmarked for this area.
New Low Carbon Industry Foundations - creating the foundations for low emissions industries by building infrastructure and expanding the capability of supply chains. AU$175 million in funding has been allocated for this objective.