H2Tech Market Data 2024 - 7

Active projects. The Asia-Pacific region accounts for 20%
of active global H2
ing more than $350 B in new H2
project market share. The region is investcapacity
and infrastructure
over the next several years. At the time of this publication,
the GEI database was tracking nearly 300 active H2
projects
in the region. Australia accounts for nearly half of these projects,
followed by China and India. A breakdown of active H2
project market share in Asia is shown in FIG. 7.
Although the Asia-Pacific region has announced many
new H2 projects over the past few years, very few have
reached a final investment decision (FID). In turn, more
than 90% of the region's H2
projects are in preconstruction
phases, such as in feasibility studies, pre-FEED and FEED.
Regardless, the region has allocated a substantial amount
of capital to increase H2
production and infrastructure and
boost its market share in electricity generation, transport,
mining, shipping and within industrial processing operations,
among others.
Australia. The island nation intends to become a major
green H2
/ammonia production hub for the Asia-Pacific
region. Written in 2019, Australia's National Hydrogen
Strategy details nearly 60 joint actions that could propel
the nation to be a leader in green H2
production. These
include short-term initiatives such as advancing pilot projects,
trials and demonstration projects; assessing supply
45% Australia
5% Indonesia
6% Japan
7% South Korea
11% Other Asian
nations
12% India
14% China
FIG. 7. Active H2 project market share in the Asia-Pacific
region. Source: GEI database.
chain infrastructure needs; and developing much-needed
infrastructure for prospective H2
hubs in regions such as
Kwinana, Gladstone, Pilbara and Whyalla, among several
other locations. Australia's long-term goals (i.e.,
from
2025) include scaling up operations, production and
infrastructure to become a major player in regional and
global H2
value chains.
However, since the country's H2
strategy was developed
several years ago, the Australian government is
revising several aspects of the strategy to attract more
investments into the sector. This announcement has
come in light of the recent passage of the U.S. Inflation
Reduction Act (IRA) and other nations around the world
offering attractive tax breaks and subsidies to invest in
renewables, green H2
production capacity and infrastructure
in their respective countries. In its annual budget, the
Australian government plans to invest AUD $2 B (USD
$1.4 B) to scale up its domestic renewable H2
industry.
These investments will help the island nation reach 1 GW
of electrolyzer capacity by 2030.
Despite stiff competition from other countries trying to
attract H2 investments, Australia continues to be the leader
in project development within the Asia-Pacific region,
accounting for more than $185 B in capital investments
to 2035. These investments include the following major
projects and hubs:
* The nearly $70-B Western Green Energy Hub
* The $36-B Asian Renewable Energy Hub
* The $15-B Desert Bloom project
* Fortescue Future Industries' 10-GW North
Queensland Super Hub
* The $10-B CQ-H2
project
* Sun Brillance's Karrath and Murchison Hydrogen
Renewables' projects (each costing approximately
$7 B)
* Bell Bay Powerfuels' $1.2-B green methanol/H2
plant in Tasmania, which is targeting 200,000
tpy of green methanol in Phase 1, increasing to
300,000 tpy in Phase 2-the methanol will be used
to help decarbonize the marine shipping industry
* Hexagon's 1.2-MMtpy low-carbon ammonia plant
in Western Australia
* Amp Energy's 5-GW green H2/ammonia complex
at Iron Road's Central Eyre Iron Project industrial
hub in South Australia
* The multi-billion-dollar Port of Hastings liquified
H2
from coal
* Atco's ScaleH2
facility (Phase 1 production will be 40,000 tpy,
with full ramp up to 225,000 tpy), which liquefies
H2
project in Illwara, New South Wales that
is targeting the development of a 1-GW electrolyzer
project and 800,000-tpy green ammonia facility
* Edify's 1-GW green H2
production facility in
Townsville, Queensland that will produce green H2
for industrial and transportation applications
and for export
* Allied Methanol's $800-MM integrated methanol
and blue ammonia plant in Darwin, in the
Northern Territory, which will produce 1,350 tpd
of methanol and 415 tpd of blue ammonia once
operations begin in 2026
* FMG plans to install two green H2
plants in
Western Australia (Pilbara region and Boodarie)
to provide power to its iron ore mining operations
* POSCO plans to invest approximately $28 B
in H2
manufacturing in Australia by 2040 to
produce 1 MMtpy of green H2
to help decarbonize
steelmaking-the company's plant would use green
H2
into hot briquetted iron for export, which will then
be used to manufacture low-carbon steel
* Woodside is developing two capital-intensive
projects in Australia. The first is the three-phase
H2Perth facility in Kwinana, Western Australia
which aims to produce up to 3.25 MMtpy of
anhydrous liquid ammonia from H2
. The second
facility-in Bell Bay, Tasmania-will install 1.7 GW
of electrolysis capacity to produce H2
be converted into 200,000 tpy of ammonia
* The Whyalla H2
hub in South Australia to help
decarbonize manufacturing and mining operations
in the state
* The $20-B, 1.8-MMtpy Han-Ho H2
hub
* Progressive Green Solutions, Samsung C&T
, which will
to turn iron ore into direct reduced iron and then
7
MARKET DATA 2024
H2-Tech.com
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H2Tech Market Data 2024

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