Queensland Premier Annastacia Palaszczuk has met with consortium partner for Queensland’s largest renewable hydrogen project.
Keppel Infrastructure has joined other partners in the CQ-H2 project, Iwatani Corporation (Japan), Kansai Electric Power Company (Japan), Marubeni Corporation (Japan) and Queensland’s publicly owned Stanwell Corporation.
At its peak, the proposed project will provide more than 8,900 new jobs, deliver $17.2 billion in hydrogen exports, and add $12.4 billion to Queensland’s Gross State Product over its 30-year life.
CQ-H2 is Queensland’s largest renewable hydrogen project and ranks in the global top 10 hydrogen projects, with Central Queensland as the hub of the strategic development.
Gladstone has a unique set of attributes to be a global player in the production of green hydrogen and related products, including a deepwater port with space for expansion, electricity and gas transmission infrastructure and a highly skilled workforce.
Delivering Australia’s largest energy SuperGrid with be supported by the $62 billion Queensland Energy and Jobs Plan to accelerate our progress toward achieving a 70 per cent renewable energy target by 2032 and 80 per cent by 2035.
The Premier invited Keppel Infrastructure to Queensland to continue discussions about this important project. The Premier also met with Iwatani Corporation, Kansai Electric Power Company, and Marubeni Corporation in Japan earlier this week to discuss the project.
Stanwell has been leading the development of CQ-H2 since 2020. A feasibility study was successfully completed in mid-2022 and announced by the Queensland Government in December 2022.
Queensland is already leading the charge in the hydrogen sector, with more than 50 hydrogen projects currently underway across the state, including Stanwell Energy’s mega $12.4 billion Central Queensland Hydrogen Hub at Gladstone Port.
The Queensland Energy and Jobs Plan will mean 70 per cent renewable energy by 2032 and 80 per cent by 2035, and propel the state to net zero emissions by 2050. The state’s green hydrogen industry is a key element of the plan, luring major investment and opening new export opportunities.
Government also supports industry development through the $4.5 billion Queensland Renewable Energy and Hydrogen Jobs Fund.
The Queensland hydrogen industry could support more than 8,900 new jobs at its peak, deliver $17.2 billion in hydrogen exports, and add $12.4 billion to Queensland’s Gross State Product over its 30-year life.