Australia to pour $190 mln into hydrogen projects

(Reuters, 4 May 2020) In a win for renewable energy advocates, the Australian government is jumpstarting investment in the hydrogen industry.

The Australian government on Monday set aside A$300 million ($191 million) to jumpstart hydrogen projects with the help of low-cost financing as the country aims to build the industry by 2030, the country's energy minister said on Monday.

The hydrogen push marks one of the few areas where the conservative government's ambitions align with renewable energy advocates, who fear the government's support of coal and gas is thwarting efforts to cut carbon emissions.

Energy and Emissions Reduction Minister Angus Taylor said the government has a strong commitment to building a hydrogen industry, as it will create jobs and billions of dollars in economic growth over the next several decades.

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Reuters, 4 May 2020: Australia to pour $190 mln into hydrogen projects