Australia’s Hydrogen Headstart program receives $2 billion boost

Dwelling Hydrogen Australia’s Hydrogen Headstart program receives $2 billion boost

May perchance 15, 2024,
by

Aida Čučuk

As phase of a funding package of $7.1 billion for budgeted capabilities to be administered by the Australian Renewable Energy Agency (ARENA), the Australian authorities has allocated $2 billion for round two of the Hydrogen Headstart program.

Illustration capabilities; Archive; Courtesy of Australian Renewable Energy Agency (ARENA)

Beneath this program, initiatives attempting to pick as much as assemble renewable hydrogen or derivatives, similar to renewable ammonia or methanol, at scale can put together for a manufacturing credit delivered over ten years to bridge the commercial gap between the worth of manufacturing renewable hydrogen and the market mark.

Spherical one of this scheme is furthermore worth $2 billion and is in the intervening time being delivered. On the discontinue of 2023, ARENA published that six applicants had been shortlisted and invited to submit a fat application, noting that recipients are anticipated to be introduced in slack 2024.

In accordance to ARENA, this extra funding for the 2d round will attend score on constructing a neighborhood renewable hydrogen industry.

ARENA CEO Darren Miller stated: “Hydrogen Headstart represents a important step in opposition to Australia turning into a international renewable hydrogen leader. The unusual shortlisted applicants for Spherical 1 highlight the dedication from the personal sector to provide this unusual industry. Extra funding for Hydrogen Headstart lets in for even extra initiatives to connect maturity and like a flash discover our renewable hydrogen industry.”

To expose, the expanded funding and unusual budget capabilities were introduced in the 2024-25 Federal Budget.

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