Australia has committed to invest AUD2bn (USD1.4bn) to accelerate the development of its renewable hydrogen industry. The funds will be allocated through the “Hydrogen Headstart” program and provide revenue support to large-scale renewable hydrogen projects through competitive hydrogen production contracts. The aim is to bridge the commercial gap for early projects and put the country on track for up to a gigawatt of electrolyzer capacity by 2030 through two to three flagship projects. The investment is part of Australia's push to achieve net-zero emissions by 2050.

Source: ESGNews