The Port of Newcastle Green Hydrogen Hub venture got an additional vote of self-confidence after a statement because of the Hon Angus Taylor MP, Minister for business, Energy and Emissions decrease that the task will get $41 million in financing.
The task is a joint endeavor with Macquarie Capital and Macquarie’s Green Investment Group and it is presently advancing an ARENA financed feasibility research. The task has been created with a phase one minimum 40MW electrolyser that more than time could boost to a capacity of over 1 GW.
The task has-been dealing with a selection of task lovers to produce an extensive selection of usage situations for green hydrogen into the Hunter which develop in the region’s powerful manufacturing history. Included in these are, transportation, bunkering, power manufacturing and manufacturing utilizes during the scale essential to place the Hunter during the center associated with growing international green hydrogen chance.
The financing statement roles Port of Newcastle as a number one website to ascertain a hydrogen hub, with connection to domestic and export infrastructure, proximate need, and accessibility green power.
Craig Carmody, CEO, Port of Newcastle stated, “This financing is a vote of self-confidence because of the authorities, which recognises the part associated with Port as an integral player into the growing international green hydrogen economy.”
“the importance for this financing can’t be understated. By 2025, develop to possess state hands down the Hydrogen Hub full, that may gain a selection of neighborhood industry and place the Hunter area becoming an integral player into the growing hydrogen opportunity.”
Port of Newcastle CEO Craig Carmody
“This capital additionally complements the present $100 million in government financing for hydrogen ability, that may consider organizing the land and infrastructure, as the DISER financing offers the system for a ready change to state 1 building,’ he said.
Macquarie Green Investment Group’s Global Head of Industrial Transition and Clean Fuels Kate Vidgen stated, “The need for hydrogen as a decarbonisation path will continue to emerge globally. Effective tasks will count on strategic web sites with neighborhood need and obvious routes for scale with time and today’s statement underscores Newcastle’s world-class ability in this field.”
Source: Port of Newcastle