Australia’s Albanese and Malinauskas Governments have finalized a grant agreement to develop the Port Bonython Hydrogen Hub near Whyalla.
Together, both governments are investing $100 million to develop infrastructure at Port Bonython and prepare it to become South Australia’s (SA) first large-scale export terminal for hydrogen.
Australia’s government officials said that along with private sector funding, the redeveloped Port Bonython is expected to host projects worth up to $13 billion and is projected to generate as much as 1.8 million tons of hydrogen by 2030.
Officials further said that the SA Government has a comprehensive plan to develop the hydrogen industry in the Spencer Gulf, including through its ‘Hydrogen Jobs Plan,’ which is set to include the development of a hydrogen electrolyzer, power station and storage facility.
To note, the Australian Government is investing over half a billion dollars in regional hydrogen hubs, including in Pilbara, Kwinana, Gladstone, Townsville, the Hunter, Bell Bay and Upper Spencer Gulf.
Furthermore, the recent ‘Commonwealth Budget’ allocated $2 billion for a new ‘Hydrogen Headstart’ program to scale up the development of Australia’s renewable hydrogen industry.
According to officials, by 2050, Australia’s hydrogen industry is projected to generate $50 billion in additional GDP and create thousands of jobs.
Australia’s PM Albanese stated: “We’re working with the Malinauskas Government to develop the Port Bonython Hydrogen Hub, which will support regional jobs and take us a step closer to becoming a renewable energy superpower.”
“The global shift to clean energy and decarbonized economies is a huge economic opportunity for Australia. We are determined to grasp this opportunity and are investing half a billion dollars into regional hydrogen hubs all around Australia.”
Australia’s Premier Peter Malinauskas noted: “Our state is blessed with the key ingredients the world needs to decarbonize international economies: abundant coincident wind and solar resources, critical minerals, strong renewable energy penetration, and well-developed industrial hubs.”
“We’re working closely with industry to maximize this opportunity to grow a new industry, which has the potential to create thousands of jobs and improve the standard of living for South Australians for generations to come.”