Australia’s pipeline of over 100 hydrogen projects is worth around $230-300bn of potential investment and represents close to 40% of all global clean hydrogen project announcements, according to the 2022 State of Hydrogen Report.
Chris Bowen, Minister for Climate Change and Energy, said the latest annual report is “a call to action” since most of the project announcements are yet to reach final investment decisions (FID). As of December 2022, only one project, from 64 announced in the year, with 10MW capacity or higher, has passed FID from the investment pipeline. Australia has 106 active planned or operational hydrogen projects.
“Global hydrogen leaders have caught up to our early lead and are advancing fast,” he writes. “We face determined competition from other countries in the hydrogen race, that also see the hydrogen opportunity and are implementing substantial and practical measures to stimulate their own industry growth.”
Progress has been made in the last year in the areas of new hydrogen and ammonia projects, replacing fossil-fuel based hydrogen and ammonia production, green ammonia for fertilisers and materials for explosives for the mining sector, the report states.
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