The Federal and South Australian governments have finalised a grant agreement to develop the Port Bonython Hydrogen Hub near Whyalla, which will create regional jobs and bring Australia another step closer to becoming a renewable energy superpower.
Together, both governments are investing $100 million to develop infrastructure at Port Bonython and prepare it to become South Australia’s first large-scale export terminal for hydrogen.
Along with private sector funding, the redeveloped Port Bonython is expected to host projects worth up to $13 billion and projected to generate as much as 1.8 million tonnes of hydrogen by 2030.
With expanses of available land, abundant solar and wind resources, South Australia is primed to become a world-class, low-cost hydrogen supplier and the SA Government has a comprehensive plan to develop a hydrogen industry in the Spencer Gulf, including the development of a hydrogen electrolyser, power station and storage facility.
The Australian Government is investing over half a billion dollars for regional Hydrogen Hubs including in Pilbara, Kwinana, Gladstone, Townsville, the Hunter, Bell Bay and Upper Spencer Gulf.
The recent Commonwealth Budget allocated $2 billion for a new Hydrogen Headstart program to scale up development of Australia’s renewable hydrogen industry.
By 2050, Australia’s hydrogen industry is projected to generate $50 billion in additional GDP and create over 16,000 jobs in regional Australia. The industry is also expected to create an additional 13,000 jobs from the construction of renewable energy infrastructure to power the hydrogen production.
Prime Minister Albanese said the Port Bonython Hydrogen Hub will support regional jobs and take the nation a step closer to becoming a renewable energy superpower.
“The global shift to clean energy and decarbonised economies is a huge economic opportunity for Australia.”