Australia and Germany Sign Multi-Million Dollar Deal for Green Hydrogen Cooperation
Key Ideas
- Australia and Germany signed a $445 million deal for cooperation on green hydrogen supply chains.
- The deal, equally funded by both governments, aims to secure European buyers for Australia's renewable hydrogen producers.
- Australian Minister for Climate and Energy highlighted the importance of renewable hydrogen for export prosperity and the global market.
- Green hydrogen, produced with renewable energy, is seen as a key energy source for the future by the German government.
Australia and Germany have entered a significant partnership with a multi-million dollar deal to enhance collaboration in green hydrogen supply chains. The agreement, valued at US$445 million and equally supported by both governments, focuses on ensuring European markets for Australia's renewable hydrogen producers. Australian Minister for Climate and Energy emphasized the pivotal role of renewable hydrogen in driving Australia's export growth and meeting global demand. By leveraging wind or solar energy, green hydrogen production is gaining traction as a sustainable energy source, particularly endorsed by the German government for its future energy landscape.