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Hydrogen Alert - Updates to Hydrogen Policy and Funding in Australia | K&L Gates LLP

[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 ....

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Australian Updates to Hydrogen Policy and Funding

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. ....

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S&P/ASX 200 snaps five-day winning streak; Challenger falls 14%

S&P/ASX 200 snaps five-day winning streak; Challenger falls 14%
Brent crude settled 0.42% higher at US$67.05 per barrel on Monday supported by a weaker US dollar, but concerns about the impact on demand from rising COVID-19 cases in India and other countries capped gains.
Spot gold fell 0.3% to US$1,770.97 per ounce on Monday after touching US$1,789.77, the highest since February 25.
S&P/ASX 200 (INDEXASX:XJO) snapped its five-day winning streak by falling 0.33% to 7,042.5 points by 1.06 pm following a muted performance from Wall Street overnight, as investors awaited key earnings results.
Rio iron ore shipments rise
Rio Tinto (ASX:RIO) shares were 0.29% lower after releasing its 1Q21 update this morning. ....

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Australia, South Australia sign A$1.1bn energy deal

Apr 19, 2021 9:05:am
Summary
The federal and state governments will look to increase gas and power supplies as well as invest in energy infrastructure.
by: Shardul Sharma
The Australian federal government and the government of the South Australia state have signed a A$1.08bn ($840mn) energy deal, prime minister Scott Morrison’s office said on April 18.
The State Energy and Emissions Reduction Deal will “delive.
Posted in: ....

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Gas targets undermine SA-Federal energy agreement

Climate Council
Gas targets undermine SA-Federal energy agreement
THE CLIMATE COUNCIL has warned that unrealistic and unnecessary targets for gas production undermine an otherwise promising deal between the Federal and South Australian Governments.
The $1bn deal includes support for solar thermal, electric vehicles, battery storage and an interconnector between SA and NSW, solutions that reduce emissions while also creating new jobs and unlocking economic opportunities for South Australia.
However, the deal also requires the SA government to set targets to ramp up gas production in the 2020s which is nonsensical for an “emissions reduction” deal.
“Gas is a fossil fuel that drives climate change, and an “emissions reduction deal” that increases gas production is utter nonsense,” said Andrew Stock, Climate Council spokesman and energy executive with over 40 years experience. ....

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