Anthony Albanese has promised to create “thousands” of “well-paying jobs” from the hydrogen hub in North Queensland, as the government has announced massive funding for the project.
The prime minister stopped in Townsville to present the grant after returning from the Bilateral Security Treaty with Papua New Guinea.
He told reporters on Saturday that $70 million would be set aside for the townsville hydrogen project.
He also announced guidelines for local businesses to apply for grants of between $30 million and $70 million to help transition the local economy.
“This is an exciting development that will create thousands of jobs in the region – safe and well-paid jobs,” he said.
Queensland is in the best position of any state.
“It is where the best solar and wind resources are located and where the skilled workforce is.”
Mr. Albanese said the funding was matched by an equal contribution from the private sector.
“You can either pretend the world isn’t changing, and pretend we’re not going to have the carbon barriers and tariffs that advanced economies have,” he said.
“Or you can be up front and transform those industries so that they become industries that not only survive, but can thrive.”
Townsville was chosen as the location for the green energy producer due to its remoteness from Asia, assets such as the city’s port, and labor force.
Green Hydrogen refers to the use of the electrolysis process – splitting water into hydrogen and oxygen – using renewable energy sources.
The resulting hydrogen can then be transported and used as a fuel source, with the only by-product being water.
Green hydrogen has been touted as a promising alternative to fossil fuels, and can be used for everything from transportation to home heating.
The then Liberal government made an election commitment of $70m, matched by Labor in April last year.
Originally published as ‘Thousands’ of ‘good paying’ jobs Anthony Albanese launches in $70m pledge to Qld Hydrogen Center