ReNu Energy Limited has applauded the Tasmanian government’s recent funding allocation aimed at boosting local green hydrogen capabilities, a significant step towards achieving commercial-scale green hydrogen production by 2025.
This funding initiative, part of the second round of the Tasmanian Government’s Renewable Hydrogen Industry Development Fund, is designed to promote domestic green hydrogen production and utilization, targeting a capacity of five to 10 megawatts (MW). The goal is to stimulate local demand and inaugurate the green hydrogen industry in the state.
To be eligible for funding, project proponents must commit to commencing production in 2025, demonstrate a viable market for the green hydrogen they generate, and present a clear path to economic sustainability.
Endorsement for ReNu Energy’s Strategy
Geoffrey Drucker, Executive Director of ReNu Energy and Countrywide Hydrogen Managing Director, welcomed the Tasmanian Government’s move, considering it an endorsement of the company’s strategic vision. Drucker emphasized ReNu Energy’s focus on supplying Tasmanian customers with locally produced green hydrogen to reduce emissions in road transport, decarbonize natural gas networks, and offer green hydrogen as an energy solution for industrial customers.
Moreover, Drucker noted that this government action aligns with its commitment to promoting hydrogen production projects outlined in the 2020 Tasmanian Renewable Hydrogen Action Plan.
Accelerating ReNu Energy’s Green Hydrogen Projects
Greg Watson, CEO of ReNu Energy, highlighted how the funding, announced by Minister for Energy and Renewables Guy Barnett, will accelerate the development of the company’s three Tasmanian green hydrogen projects. These projects are rapidly approaching the final investment decision stage, with the first hydrogen supply expected by mid-2025.
Watson elaborated on the progress, indicating that the development approval process is underway, contracts for electrolyzer and hydrogen refueling station equipment supply are being negotiated, hydrogen customers have been identified, and sites have been selected for each project. This comprehensive planning paves the way for a clear trajectory towards green hydrogen production.
ReNu Energy’s Green Hydrogen Projects in Tasmania
Countrywide Hydrogen Pty Ltd (Countrywide Hydrogen), a wholly owned subsidiary of ReNu Energy, is actively working on three distributed green hydrogen projects in Tasmania. These projects are situated in Brighton (Hobart), Western Junction (Launceston), and Heybridge (Burnie).
Additionally, ReNu Energy announced that it plans to issue a call for registers of interest in October 2023, further underlining the company’s commitment to advancing green hydrogen initiatives in Tasmania.
The Tasmanian Government’s funding injection and commitment to green hydrogen align with broader global efforts to transition to cleaner and more sustainable energy sources. Tasmania’s strategic positioning and renewable energy potential make it a key player in the emerging green hydrogen industry.
