Arena Funding Agreements

„Despite the very significant benefits that hydrogen can bring, it is not yet cost-effective for large-scale use in our energy systems. This $70 million funding round will help demonstrate the technical and commercial viability of large-scale hydrogen production through electrolysis,” said Federal Energy Minister Angus Taylor. ARENA opened the Fund for Expressions of Interest for Large Renewable Hydrogen Projects, including in a number of industries and end-uses, and said that hydrogen projects, which ARENA has previously supported, have identified a „significant trade deficit” and that the new funding cycle will help reduce hydrogen production costs. Several major European steel producers have begun testing the use of hydrogen in steel production and federal Energy Reduction and Emissions Minister Angus Taylor said arena funding would be key to harnessing Australia`s ability to supply renewable hydrogen to these industries. ARENA launches $70 million funding round for major renewable hydrogen projects. The Australian Renewable Energy Agency has opened a new $70 million funding round for hydrogen for applications, which the agency hopes will accelerate the creation of a globally competitive hydrogen industry in Australia. The funding cycle builds on a commitment Taylor outlined in a speech last year at a ceda event in Sydney that aimed to achieve hydrogen production below $2 per kilogram and increased the potential to direct funding toward coal and gas hydrogen production, as well as carbon capture and storage. ARENA has already provided more than $55 million in grants to support the development and demonstration of new hydrogen technologies, including a demonstration project with the Yemeni gas supplier worth $15 million. ARENA anticipates that it will invite a list of potential projects to submit full funding applications sometime in 2020 and that final funding agreements are expected to be concluded by the end of the year. The $70 million arena funding round, which will consist primarily of grants, will operate, as well as an additional $300 million commitment by the Clean Energy Finance Corporation to support direct investment in new projects. With a large supply of high-quality wind and solar resources, as well as established links to the global energy export market, many see Australia as the world leader as a global supplier of renewable hydrogen. Because hydrogen has the potential to produce electrolysis using renewable energy sources such as wind and sun, it has the potential to serve as a carbon-free energy source. According to a 2019 Deloitte report, a hydrogen industry could contribute $26 billion to Australia`s GDP and create up to 16,900 jobs by 2050.

Please copy this integration script and insert it where you want to integrate it „With this important investment, we expect us to take the sector to the next level. Over the past two years, we have supported a series of feasibility studies and pilot projects, but we must now begin the journey to large-scale hydrogen production,” said Darren Miller, CEO of ARENA. Please fill out this form, we will try to respond as soon as possible. New technologies are expanding the use of renewable hydrogen, including the use in energy storage for the electricity sector, as an alternative fuel for transportation and as an alternative source of heat for energy-intensive industrial processes.