A proposed renewable gas development is expected to create more than 1000 new positions off the shore of Victoria.
The Tasmanian Government is investing $50 million to construct the Natural State’s first hydrogen gas project. The project involves to building a 1000 megawatt hydrogen facility capable of powering 1 million homes, public transport buses, ferries and fleet vehicles.
Power generated from hydrogen is predicted to be 30 per cent cheaper than off grid renewable energy sources and 15 per cent cheaper than relying on the mainland’s power grid. Surplus gas will be exported to Japan, South Korea, Singapore and China.
The project is expected to create between 1000 and 1200 local jobs.
Funding will be provided through the Tasmanian Renewable Hydrogen Fund, concessional loans and support services to help form an action plan.
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“[This will] include competitive electricity supply arrangements and payroll tax relief, to drive industry development,” Premier Peter Gutwein said in a public statement. “Our vision is that Tasmania will be commercially exporting hydrogen by 2030.”