Australia and Germany Sign Multi-Million Dollar Deal for Green Hydrogen Cooperation
Key Ideas
- Australia and Germany signed a US$445 million deal to cooperate on green hydrogen supply chains.
- The agreement, equally funded by both governments, aims to secure European buyers for Australia's renewable hydrogen producers.
- Australian Minister Chris Bowen highlighted the importance of renewable hydrogen for Australia's export prosperity and its potential for green products, chemicals, and fuels.
- Green hydrogen, produced with wind or solar energy, is seen by the German government as a major future energy source.
Australia and Germany have signed a significant deal to enhance cooperation on green hydrogen supply chains. The US$445 million agreement, equally supported by both governments, is designed to ensure that European buyers have access to Australia's renewable hydrogen producers. Australian Minister for Climate and Energy, Chris Bowen, emphasized the crucial role of renewable hydrogen in Australia's export growth, stating that it is in demand globally and can be both shipped to partners and used domestically for green products and fuels. The production of green hydrogen, which relies on wind or solar energy, is highly regarded by the German government as a pivotal energy source for the future. This partnership signifies a step towards a more sustainable and environmentally friendly energy sector, highlighting the growing importance of renewable energy in the international market.