May 31 (Renewables Now) - The Queensland government will allocate AUD 750,000 (USD 567,000/EUR 486,000) in next month's state budget to study hydrogen production as it sees an opportunity to turn some of Queensland's growing renewable energy generation into hydrogen for local and international markets.
Queensland premier Annastacia Palaszczuk said on Thursday the funding will support early stage investigation of demonstration projects to help the government assess the feasibility of producing hydrogen in the state at competitive prices to natural gas and other energy sources.
"Queensland is well placed for hydrogen production with access to feedstock such as water and solar power, existing gas pipeline infrastructure, access to export ports and access to domestic and international markets," she said.
The announcement was made as part of Palaszczuk's trade mission to Japan, which has made significant investment in hydrogen research and development.
(AUD 1 = USD 0.756/EUR 0.648)