The Australian state of Tasmania is looking to tap its vast green hydrogen potential with the help of foreign investment, as it has already established a renewables-dominated electricity supply. In order to explain its unique potential to become a leading supplier of clean, secure and affordable hydrogen, the Tasmanian state government has released a prospectus to international investors in the global energy industry.
The Tasmanian Renewable Hydrogen Prospectus was released on Tuesday by the Office of the Coordinator General at the Tasmanian Energy Symposium in China, with Hydro Tasmania in attendance to support the initiative. “As Australia’s largest generator of clean energy, it is only appropriate that Hydro Tasmania be attending the Tasmanian Energy Symposium event in China, as a part of our ongoing efforts to capitalize our state’s clear advantages and expertise,” said Hydro Tasmania CEO Steve Davy.
Last month, Hydro Tasmania released a white paper, Tasmania’s ‘green hydrogen opportunity – what makes Tasmania a unique, green hydrogen zone?, that outlined the state’s competitive advantage in the emerging hydrogen industry. It showed that hydrogen could be produced in Tasmania for much than in other Australian states.
Davy said the white paper has already attracted plenty of interest.“The key to Tasmania’s potential is our ability to produce low-cost, emission-free hydrogen, powered by the state’s renewable energy, which makes us attractive for countries looking to meet their emission reduction targets,” he said.
In its white paper, Hydro Tasmania said that it believes it can undercut producers that use grid-sourced electricity to produce hydrogen due to its ability to “firm” production with its vast hydroelectricity capacity. The analysis also highlights the state’s advantages for green hydrogen production, including high energy security, self-sufficiency in renewables by 2022, strong transport infrastructure options, and the Battery of the Nation initiative.
Tasmania’s ambitions of becoming the Battery of the Nation have improved since the release of early reports on the proposed Marinus Link. Those studies suggest that the project, which is a second proposed interconnector between Tasmania and Victoria, offers economic advantages that far outweigh expected costs. The proposed 1,500 MW undersea interconnector could help deliver energy, specifically renewable energy, from Tasmania to Victoria to help stabilize the national grid.