The Tasmanian Government has received 23 applications for the development of renewable hydrogen through the state’s Hydrogen Renewable Funding Program.
This $50 million hydrogen support package will provide $20 million for projects under the Tasmanian Renewable Hydrogen Fund, as well as seeing 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.
The Tasmanian Government said this is a positive indication of significant investment in Tasmania’s hydrogen sector, which is projected to create hundreds of local jobs and inject millions into the state’s 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 the state’s Renewable Hydrogen Action Plan, which aims to make Tasmania a global producer and exporter of hydrogen by 2030.
Recommendations will be provided to the State Government for consideration in coming months.