AUSTRALIA (Energy Portal) – Australia will launch hydrogen projects, which it aims to establish its industry with the help of low-cost financing by 2030.

The Australian government has allocated $ 300 million ($ 191 million) on the same day to launch hydrogen projects that Australia aimed to set up its industry with low-cost funding assistance by 2030, according to the country’s energy minister.

Hydrogen pressure determines one of the few areas where the goals of the conservative government are compatible with renewable energy advocates, fearing that the government’s support for coal and gas consumption will hamper efforts to reduce carbon emissions.

Energy and Emissions Reduction Minister Angus Taylor said the government has a strong determination to establish a hydrogen industry as it will create billions of dollars of economic growth and employment over the next few decades.

“As an important detail, if we can produce hydrogen below $ 2 Australian per kilogram, production at this price level will play a role in our national energy production pot to lower energy prices and keep the lights on,” Taylor explains. commented.

70 million Australian Dollars grant for hydrogen projects…
The Progressing Hydrogen Fund will be operated and paid by the government’s Clean Energy Financing Authority (CEFC) and will focus largely on projects demonstrating the technical and commercial feasibility of producing hydrogen.

The CEFC hydrogen fund will work with the government’s Australian Renewable Energy Agency, which will soon be supported by a $ 70 million grant for hydrogen projects.

CEFC General Manager Ian Learmonth pointed out to the transportation and manufacturing sectors, “We see that green hydrogen offers the most reliable way to remove carbon for high emission sectors.” said.

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