14 May 2024
Budget Support for Renewable Hydrogen Welcomed
A step change in support for renewable hydrogen through generation incentives and a fast-tracked guarantee of origin scheme have been welcomed by industry.
Australian Gas Infrastructure Group (AGIG) CEO Craig de Laine said Australia needs as many renewable energy options as possible to reach net zero, and the measures announced in tonight’s budget were a welcome step in the right direction.
"Tonight's announcements are the latest signals that the Commonwealth envisages an important role for renewable hydrogen in Australia's energy transition.
"AGIG has long held that view, which is why we have been among the first in the country to invest in renewable hydrogen generation.
"Renewable gases, like hydrogen, can give Australians energy choices that are convenient, reliable and have less carbon emissions.
"The $6.7 billion incentive announced tonight to accelerate Australia's pipeline of renewable hydrogen projects shows the government is as serious as we are about the opportunity for renewable gas to support Australia as it transitions to net zero and beyond.
"Using existing energy infrastructure to meet decarbonisation goals makes good sense. Importantly for our customers, renewable gas means customers can retain choice in the energy fuel that best suits their needs.
Background
AGIG owns, operates and invests in infrastructure which delivers gas to more than two million homes and businesses. It powers generators, mines, manufacturers and household appliances and the combined network makes AGIG one of the largest gas infrastructure businesses in Australia.
AGIG manages over 35,000km of world-class distribution networks, more than 4,300km of transmission pipelines and 60 petajoules of storage capacity, valued at a combined $10 billion. We employ approximately 500 people with more than 1,600 contractors working on our business.
AGIG is leading the Australian renewable hydrogen industry, with the establishment of Hydrogen Park SA, the largest operational electrolyser in Australia, the construction of Hydrogen Park Murray Valley and several other renewable hydrogen and biomethane projects in development.
AGIG has a low carbon vision to deliver 100% renewable gas by no later than 2050, with at least 10% renewable gas blends delivered to homes and businesses though our distribution networks by 2030.
For Further Information Contact
Mitchell Cutting, Senior Communications Manager
M +61 460 018 065
