PERTH (miningweekly.com) – The Victorian government has earmarked a A$100-million investment into renewable energy in the state, including hydrogen made from renewable energy, saying the investment could create thousands of jobs.
The funding boost is part of a record A$1.6-billion investment in the Victorian Budget 2020/21 that will accelerate the development of offshore wind, hydrogen and other cutting-edge energy technologies.
The state government said that the funding would support research, startups and innovation, and provide direct industry grants to get power from ground-breaking concepts out of the lab and into the grid.
“Renewable energy is central to our economy and our recovery from the pandemic, that’s why we’re helping these new technologies become a reality here in Victoria,” said Minister for Energy, Environment and Climate Change Lily D’Ambrosio.
“This is about jobs, jobs in major new projects and industries that will deliver cleaner, cheaper, more reliable energy for Victorians.
“Industries like offshore wind and hydrogen from renewables have huge potential, not only to boost power supply and reliability, but to create jobs, save households money and tackle climate change.”
D’Ambrosio pointed out that Victoria was home to many companies doing innovative research on hydrogen from renewables, offshore wind and other renewables technology.
“Backing these ideas and putting Victoria at the forefront of these game-changing technologies will help drive new investment, open up export opportunities and support local businesses and jobs, particularly in regional Victoria. It will also help international companies deploy new technology into Australia, such as offshore wind.”
The funding announced today will also start assessing the transmission infrastructure requirements and considering the regulation and investment settings to support a major offshore wind industry.
It will also accelerate the development of hydrogen from renewable sources, which offers enormous potential as clean energy.
D’Ambrosio said that Victoria was already leading the world in building a hydrogen supply chain and was poised to push the frontiers with hydrogen from renewables, given the state's strong renewable energy infrastructure and workforce.
“This A$108-million innovation funding will make a major contribution to emissions reductions in the future, and see Victoria meet its zero net carbon target by 2050.”