Having already established a renewables-dominated electricity supply, Tasmania is now looking to tap its vast green hydrogen potential with the help of foreign investment. In order to explain its unique potential to become a leading supplier of clean, secure and affordable hydrogen, the Tasmanian 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 capitalise our state’s clear advantages and expertise,” said CEO of Hydro Tasmania, Steve Davy.
Last month, Hydro Tasmania released a white paper titled Tasmania’s ‘green hydrogen opportunity – what makes Tasmania a unique, green hydrogen zone?, which outlined the state’s competitive advantage in the emerging hydrogen industry. The analysis showed that hydrogen can be produced in Tasmania for approximately 10-15% less than other Australian power grids needing to offset emissions, and 20-30% less than from dedicated off-grid renewables, due to the high plant utilisation that can be supported by Tasmania’s hydropower.
CEO of Hydro Tasmania, Steve Davy, said the white paper had 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 added.
In its whitepaper, Hydro Tasmania says that it believes it would be able to undercut producers that use grid-sourced electricity to produce hydrogen and those using solar and wind alone due to its ability to ‘firm’ production with its vast hydroelectricity generation. The analysis also names the state’s advantages for green hydrogen production, including high level of energy security and stability, self-sufficiency in renewable energy by 2022, strong transport infrastructure options and more options for supply through development of further interconnection and the Battery of the Nation initiative.
Tasmania’s ambitions of becoming the Battery of the Nation have improved after early reports on the proposed Marinus Link, a second interconnector between Tasmania and Victoria, showed the project’s economic advantages far outweigh expected costs. The proposed Marinus Link is a 1,500 MW second undersea interconnector that would help deliver energy, specifically renewable energy, from Tasmania to Victoria to help stabilize the national grid.