Tasmanian govt. plans to invest $50M to develop hydrogen energy plant
Category: #energy-and-environment  By Saipriya Iyer  Date: 2020-03-02
  • share
  • Twitter
  • Facebook
  • LinkedIn
Tasmanian govt. plans to invest $50M to develop hydrogen energy plant

The government of Tasmania has recently announced its intention to invest $50 million for the ‘Renewable Hydrogen Action Plan’ to advance the state’s hydrogen energy industry. $20 million from the new $50 million action plan will be allocated for the Tasmanian Renewable Hydrogen Fund financing, while the remaining $20 million and $10 million will be used for concessional loans and support services, respectively.

Peter Gutwein, Premier of Tasmania, has stated that the new action plan was issued with an objective to build a renewable hydrogen production facility in the state by 2022-2024. Bell Bay (a port in northern Tasmania) and Burnie (a port city in the north-west coast of Tasmania) are considered as the potential industrial hubs for clean hydrogen, which can be generated through electrolysis, a process used to produce the energy carrier hydrogen by splitting water molecules, i.e. H2O into oxygen and hydrogen atoms. The hydrogen sourced from this process is then condensed to a liquid fuel source, where fuel cell vehicles can use this hydrogen gas to power an electric motor. These hydrogen fuel cells can also be used to produce conventional electricity.

Mr. Gutwein has further added that the government has plans to commercially export hydrogen by 2030, which will eventually create several job opportunities and facilitate capital injections worth billions into the state’s economy.

According to Guy Barnett, Tasmanian Energy Minister, Bell Bay is considered as an ideal hub for launching a 100-megawatt hydrogen plant, which is expected to further expand to a 1,000-megawatt facility by 2030, aimed at generating enough power for approximately 1 million households. The location has access to deep water, supply chain, electricity, and rail, which makes it a suitable spot for establishing the hydrogen power plant.

Mr. Barnett added that the development of renewable hydrogen production facility is a viable first step towards contributing to the growth of the state’s hydrogen energy industry. He expressed his belief that the facility will create nearly 1,000-1,200 jobs as well as ensure capacity to support a further 2,000-megawatt of renewable energy investments in Tasmania.

Source credit:

https://www.msn.com/en-au/news/other/tasmanian-government-to-invest-dollar50m-in-hydrogen-power-plan/ar-BB10Brec#:~:text=The%20Tasmanian%20Government%20has%20announced,energy%20industry%20in%20the%20state.&text=In%20a%20statement%2C%20Premier%20Peter,and%20running%20by%202022%2D2024

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

Read More >>

More News By Saipriya Iyer

Patanjali plans to sell food retail biz to Ruchi Soya for $88Mn
Patanjali plans to sell food retail biz to Ruchi Soya for $88Mn
By Saipriya Iyer

Indian multinational conglomerate holding company, Patanjali Ayurved has recently signed an agreement to sell its food retail unit to Ruchi Soya Industries for Rs 690 crore (USD 88 Million). The deal, which comprises 21 major products such as hone...

Apollo in talks to pump $1Bn into India’s residential property market
Apollo in talks to pump $1Bn into India’s residential property market
By Saipriya Iyer

Apollo Global Management Inc., an American investment management firm, is reportedly planning to lend around $1 billion to Indian property developers this year, making a bet on the recovery of the country’s residential property market as the CO...

Meta platforms join hands with AMD to make broadband more accessible
Meta platforms join hands with AMD to make broadband more accessible
By Saipriya Iyer

The two companies will collectively work on mobile internet infrastructure program This partnership aims to reduce base station cost and make broadband more accessible   Meta Platforms Inc., the parent company of Facebook, has rece...