Out-Law News | 09 Feb 2021 | 1:29 am | 1 min. read
The Western Australian government has opened a second round of funding from its Renewable Hydrogen Fund, announcing A$5 million to support feasibility studies and capital works to develop hydrogen projects in WA.
The funding will be allocated through a competitive grant funding process. All funding applications must fall in one of the WA Renewable Hydrogen Strategy's four focus areas: export, remote applications, hydrogen blending and transport.
Perth-based renewable energy expert George Varma of Pinsent Masons, the law firm behind Out-Law, said: "The focus on hydrogen blending and transportation projects in particular are key to short term growth, which will in turn drive the production of hydrogen at scale. This means Australia will be well placed to start exporting green hydrogen internationally, making it an exciting time to be working in a dynamic and rapidly growing market.”
The WA government said that applicants are required to demonstrate that investment in the proposed studies or works would contribute to progressing towards the 2022 and 2030 goals set out in its strategy and the WA Renewable Hydrogen Roadmap.
In round two, a single proposal on feasibility studies may be granted up to A$300,000 and up to A$5m is available for capital work projects. Capital works proposed projects are required to be supported by a completed and viable feasibility study.
"This next round of funding demonstrates the Western Australian government’s commitment to invest in the development of its hydrogen sector and is also a clear indication to investors, both domestically and internationally, that the market is primed for growth, " he said.
Successful applicants should ensure they meet the criteria set out in the Renewable Hydrogen Fund Round Two Guidelines and complete their application online before 19 February.
The WA government launched the first round of funding from its Renewable Hydrogen Fund in 2019 with A$10m. Four capital works projects and seven feasibility studies received grants.