ARENA welcomes funding for Hydrogen Headstart initiative

In Australia, Australian Renewable Energy Agency (ARENA) has welcomed new funding for the Hydrogen Headstart initiative announced in the 2023-24 Federal Budget.

The Australian Government announced the establishment of the $2 billion Hydrogen Headstart initiative to underwrite the biggest green hydrogen projects to be built in Australia.

Funding will provide revenue support for investment in renewable hydrogen production through competitive production contracts. Funding will cover the commercial gap between the cost of hydrogen production from renewables and its current market price.

Hydrogen Headstart aims to support two to three flagship projects which could provide up to 1 gigawatt of hydrogen electrolyser capacity.

ARENA has been allocated $4.2 million this year to support the development and operation of the program in consultation with the Department of Climate Change Energy Environment and Water (DCCEEW).