Australia’s green hydrogen sector has been dealt a major blow with news that Stanwell Corporation is stopping the Central Queensland Hydrogen Project.
In a brief statement, it said the project had been a “valuable international collaboration that has provided important technical and commercial knowledge to support the future large-scale commercialisation of renewable hydrogen”, without detailing the reasons for pulling out.
Funding is likely to be the main reason, as the Queensland government announced earlier this year it would not extend any further loans or grants for the project – and the broader slump in the hydrogen market will have been another factor.
The ambitious project aimed to deliver 800 tonnes of green hydrogen per day and create almost 9,000 jobs, as well as delivering billions of dollars of export revenues over a 30-year lifespan.
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