The federal government has announced that it has reached an agreement to invest $69.2 million in the Stanwell Corporation-led Central Queensland Hydrogen Hub in Gladstone, with construction expected to begin next year.
According to a joint statement from the federal and state governments on Thursday, the hub will create “over 8,900 jobs including roles in construction, trades and engineering”, “could produce up to 292,000 tonnes of hydrogen a year by 2031”, and will see the consortium behind it at least dollar-match the federal government’s investment.
Federal funding is through the regional hydrogen hubs program.
Funding for the Gladstone hub was originally announced by the previous federal government in April 2022. A feasibility study for CQH2, supported by the Australian Renewable Energy Agency, was released in December last year.
“Central Queensland is an energy export powerhouse and has helped keep the lights on for decades, and as global markets shift – it can reap the benefits of new industries like hydrogen too,” said federal energy minister Chris Bowen in a statement.
“Gladstone has strong foundations to host a thriving hydrogen industry, creating thousands of local jobs and position Australia as a renewable energy superpower.”
A total investment of at least $138 million would fund an electrolyser, pipeline and underground storage facility, with construction scheduled to be complete in 2027.
The news follows an announcement last month that the South Australian and federal government confirmed $100 million in funding for SA’s Port Bonython hydrogen hub and export terminal, and another $70 million in July to the Hunter Valley Hydrogen Hub.
Picture: credit Stanwell