May. 16, 2024

  • Blog

Embracing a Greener Tomorrow with a “Future Made in Australia”

As a leader in the renewable energy and emerging green hydrogen sectors, CWP Global welcomes with great excitement this week’s announcement by the Australian Government of the “Future Made in Australia”, a significant package of policy measures that aligns with our vision and the monumental green hydrogen hub projects we are pioneering in Western Australia.

“The Future Made in Australia package not only sets out a new vision for Australia to take its rightful place as a leader in the new green industries set to transform the energy and mining sectors, but seeks to set in motion a slew of major economic reforms aligned with the global energy transition,” said Tim Horneman, CWP Global’s Regional President APAC. “It is a comprehensive plan that positions the country at the forefront of Asia’s, and indeed the world’s, green industrial revolution.”

A Competitive Edge in Green Hydrogen

Central to this new package is the commitment to provide an AUD 2 per kilogram production tax credit for renewables-based hydrogen production. It is a major step designed to ensure that Australia keeps pace with policy interventions globally, responding to similar incentive schemes in the US, Europe, and East Asia. It sends a signal globally that we can respond positively to new opportunities in key markets for green fuels and products, including Japan, Korea and China, and paves the way for deeper government-to-government cooperation and support for bilateral investment and trade.

Bridging the Gap with Hydrogen Headstart

We are particularly encouraged by the continuation of the Hydrogen Headstart initiative. This strategic move signals an ongoing commitment to support early movers in advance of the new Production Tax Credit taking hold, ensuring that Australia’s best green hydrogen projects can continue to pursue partnerships and progress towards final investment decision.

Strategic Decisions for a Sustainable Future

As we await the release of the updated Australian Hydrogen Strategy, it is clear that early support for visionary and rapidly scalable projects is essential if Australia is to become a major player in the global hydrogen economy, expected by some to exceed 100 million tonnes per annum by 2030. Strategic decisions made now will determine whether Australia can be a green hydrogen leader by the end of this decade.

Our Role and Our Commitment

After having built the biggest portfolios of grid-connected wind projects in both South-East Europe and then Australia, CWP Global is a proud co-founder and active participant in the development of the 26 GW Australian Renewable Energy Hub (AREH) in the Pilbara region, and the 50+ GW Western Green Energy Hub (WGEH) project in the south-east corner of Western Australia.

These projects are more than just green energy hubs. Their success will make an outsized contribution to Australia becoming a ‘Renewable Energy Superpower.’ The projects are designed carefully to provide substantial economic, social, and environmental benefits, including high decarbonization impacts, regional development, First Nations participation, and the production of new, green export products that can transform Australia’s trade and industrial processes.

As we move forward with these transformative projects, we are committed to the principles of sustainability and innovation that drive our work.

We invite you to stay engaged with us as we contribute to shaping Australia’s green industrial revolution.

For more information about our projects and initiatives, please visit our Projects Page or contact our team directly.



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