New program to drive hydrogen investment

hydrogen

The Andrews Labor Government will invest $2 million to boost the development of clean hydrogen energy technologies in Victoria.

Victorian Minister for Energy Lily D’Ambrosio today announced the Victorian Hydrogen Investment Program, which will help fund a number of initiatives, including a grants program to kickstart Victoria’s hydrogen industry.

Hydrogen produced from renewable technologies presents extensive export market opportunities, particularly to Japan and Korea, and could complement the clean energy revolution in Victoria.

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Ms D’Ambrosio said the technology can help boost local jobs in Victoria while helping tackle climate change.

“We’re investing in this emerging industry so that Victoria is at forefront of the transition to clean energy,” she said.

The program will fund investment in hydrogen research and trials and investigate ways to draw on Victoria’s increasing renewable energy resources and natural gas pipeline infrastructure.

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The program may also support feasibility studies, business cases and projects that will advance our understanding of how hydrogen can contribute to growing Victoria’s economy and to reducing greenhouse gas emissions.

The Labor Government will increase Victoria’s renewable energy target to 50 per cent by 2030, creating thousands of jobs, putting more energy into the grid and driving down energy prices.

To ensure the program is well targeted, the government will first consult with business and industry through a Request for Industry Submission process, open from Wednesday, December 19 to Thursday, February 28, 2019.