Hydrogen - an abundance of opportunity for the Hunter Valley
About Hydrogen:
As the world transitions from fossil fuel use, green hydrogen is a critical element in the many solutions required to make that transition possible. Bloomberg NEF 2021 report forecast up to 22% of energy will be provided by green hydrogen in a net zero world.
In IRENA’s latest report, global green hydrogen demand in a net zero economy in 2050 wil range from 300-800 million tonnes per annum. METI’s basic hydrogen strategy alone has stated that Japan’s annual hydrogen procurement may be between 5-10 million tons annually, equating to 15-30 GW in power generation capacity.
(Source: https://www.meti.go.jp/english/press/2017/pdf/1226_003a.pdf)
Hydrogen will be an immense new industry analogous to the LNG industry today. This means an abundance of opportunity for green hydrogen production in the Hunter Valley where there are multiple advantages for such production:
Creating Economic Growth Opportunities in the Hunter
BZE’s April 2022 report shows that a REIP in the Hunter, fuelled by green hydrogen has the potential to attract private investment of $28 billion, create more than 30,000 jobs and generate billions in revenue for the region.Energy Estate’s modelling shows an estimate of the investment attracted to the region by H2N alone:
* All figures based on Scoping Study Thesis