UPDATED: Seven companies including Woodside, BHP and ATCO Australia have been shortlisted to share in the next stage of ARENA’s $70 million Renewable Hydrogen Development Funding.
UPDATED: Seven companies including Woodside Petroleum, BHP Nickel West and ATCO Australia have been shortlisted to share in the next stage of ARENA’s $70 million Renewable Hydrogen Development Funding.
The Australian Renewable Energy Agency announced the funding in April, which is intended to fast-track the development of renewable hydrogen in Australia.
The next round is expected to play a significant role in supporting commercial-scale deployments of renewable hydrogen, ARENA said.
The other shortlisted applicants include APT Management, Australian Gas Networks, Engie Renewables Australia and Macquarie Corporate Holdings.
The total grant requested across all seven companies is $200 million, with a total project value of almost $500 million.
That includes four Western Australian projects operated by BHP, ATCO, APT and Engie, as well as one project each in Queensland, Tasmania and Victoria.
ARENA said while all applicants had well-developed renewable hydrogen projects, the organisation would support two or more of the shortlisted applicants.
Chief executive Darren Miller said the organisation’s ultimate goal was to bring the price of renewable hydrogen down to be competitive with other forms of energy.
“The best way to help build a hydrogen industry is to support projects that will help demonstrate the technology at scale and share the lessons learned to help the industry as a whole reduce risk and costs, as well as increase efficiency,” he said.
“A thriving renewable hydrogen production sector will not only help our heavy industry and transport sectors reduce emissions, but will provide the platform for Australia to export renewable energy and reduce emissions beyond our borders.”
The seven companies will have until January next year to prepare their applications. Their projects need to be powered by renewable electricity to be eligible for funding, ARENA said.
The organisation expects to select the preferred projects by the middle of next year.
Applicants may also be considered for further financing from the Clean Energy Finance Corporation (CEFC) under a $300 million Advancing Hydrogen Grant, ARENA said.
The organisation said it had received 36 expressions of interest during the initial application stage for the Renewable Hydrogen Development Funding, totalling more than $3 billion of renewable hydrogen products.
