The Tasmanian Liberal Government is delighted with the strong interest from clean energy developers to be part of Australia’s renewable hydrogen epicentre right here in Tasmania with 23 applications received through our Tasmanian Hydrogen Renewable Funding Program.
This nation-leading $50 million hydrogen support package will provide $20 million for projects under the Tasmanian Renewable Hydrogen Fund as well as see up to $20 million provided in concessional loans and up to $10 million in support services to give the sector the stimulus it needs to build a long-term foundation.
Under the program, a mix of proposals for feasibility studies and infrastructure projects have been received as well as financial assistance with electricity costs and concessional loans.
This clearly demonstrates that the Tasmanian Government is on the right track to attract significant investment in this sector to our state which is projected to create hundreds of local jobs and inject millions into our economy, particularly in regional areas.
The applications received cover the production, distribution, and use of hydrogen with a wide variety of potential end-uses identified, including transportation.
An independent assessment panel is now considering applications on their individual merit as well as how they will fit into our Renewable Hydrogen Action Plan which aims to make Tasmania a global producer and exporter of hydrogen by 2030. Recommendations will be provided to the Government for consideration in coming months.
The Tasmanian Liberal Government is getting on with driving investment and creating local jobs by realising our renewable hydrogen energy potential which will be vital as we rebuild Tasmania’s economy.