NSW Energy Update: $3 billion in government incentives for “green hydrogen” energy projects

NSW Premier Dominic Perrottet has unveiled the ambitious green hydrogen strategy for NSW which will generate at least $80 billion in private investment.

 

What is NSW Hydrogen Strategy?

The NSW Hydrogen Strategy involves a cycle of investment, technology development and cost reductions leading to a deep decarbonisation and achieving the aspirational objective of net zero emissions by 2050.

NSW aims to achieve stretch targets by 2030, including:

  • Producing 110,000 tonnes of green hydrogen per annum for under $AU2.80.
  • Creating up to 10,000 new jobs.
  • Building a refuelling network for heavy vehicles along key highways across NSW.
  • Waiving taxes and charges that will lead to a cost reduction of green hydrogen.
  • Supporting Australia’s first green hydrogen and gas power plant, and;
  • Positioning the state to capture early domestic and international market share.

In addition, Mr Toole highlighted that “Places like Parkes, the Illawarra, and the Upper Hunter are uniquely placed to take advantage of these opportunities, with existing supply lines, access to transport links and a skilled workforce ready to make regional NSW a leader in hydrogen technology.”

On the other hand, various countries have revealed hydrogen targets that involve a significant economic opportunity in Australia’s green hydrogen export market, for instance, Japan, South Korea, Germany, amongst others.

 

How to participate:

Expressions of interest to participate in the hydrogen hubs will be accepted by the end of October. In addition, for detailed information on hydrogen initiatives, please contact us.

 

Harris Gomez Group opened its doors in 1997 as an Australian legal and commercial firm. In 2001, we expanded our practice to the international market with the establishment of our office in Santiago, Chile. This international expansion meant we could provide an essential bridge for Australian companies with interests and activities in Latin America, and in so doing, became the first Australian law firm with an office in Latin America.

We provide innovative technology and resources businesses with legal and commercial expertise to realise their global potential. Our goal is to see innovative businesses establish and thrive in the global market. We are proud members of Austmine.

 To better understand how we can support your management team in the Region, please contact contact@hgomezgroup.com  

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