Provaris welcomes the Federal Government’s announcements in last night’s Budget 2023-24 in relation to (additional) initiatives to position Australia as renewable energy superpower. With respect to building Australia’s hydrogen economy and hydrogen production, we can summarise the following initiatives which could have relevance to the Tiwi H2 export project. We look forward to continuing our consultation with the Federal and Territory governments in support of our project development activities. - $2 billion for Hydrogen Headstart, providing revenue support for large-scale renewable hydrogen projects through competitive hydrogen production contracts. These will help bridge the commercial gap for early projects and put Australia on course for up to a gigawatt of electrolyser capacity by 2030 through 2 to 3 flagship projects.
- $38.2 million in funding for a Guarantee of Origin scheme, which will certify renewable energy and track and verify emissions from clean energy products – in particular hydrogen. This is critical funding to ensure Australia is seen as an attractive investment destination, to accelerate investment in an Australian hydrogen industry and to support access to future markets for verified renewable and clean products. In our interactions with prospective customers, credible certification has been a consistent discussion point and as such this initiative is very welcome.
- $2.0 million to establish a fund to support First Nations people and businesses to engage with hydrogen project proponents, planning processes and program design.
| 
