Govt dishes out $19.9m for Taranaki hydrogen project

The Government has announced $19.9 million through the Provincial Growth Fund towards a hydrogen energy facility in South Taranaki.

The joint venture between Ballance Agri-Nutrients and Hiringa Energy will see the production of hydrogen from renewable electricity and water at a facility in Kapuni.

The hydrogen produced will then be used to power the Ballance Agri-Nutrients’ Kapuni plant.

“The development of alternative energy initiatives like this one is vital for the Taranaki region’s economy. We are pleased the PGF is working with Taranaki businesses to build sustainable long-energy term industry,” deputy prime minister Winston Peters says.

“The Kapuni plant is a significant contributor to South Taranaki’s economy and this project will create around 50 jobs during construction and an additional seven jobs after construction.

“This initiative is expected to attract significant investment from industries interested in New Zealand green hydrogen and to be a catalyst for a green hydrogen market and contribute to major growth through the Taranaki region and nationally.

“In the future, green hydrogen produced by these sorts of projects could fuel our heavy transport industry,” Peters says.

The investment comes from a $40m commitment from the PGF to support renewable energy projects which includes four hydrogen projects in Taranaki.

Another $3.16m has been announced to fund two wind turbines on Stewart Island.

“Projects like this will make a serious difference for the future of a cleaner, greener New Zealand. We look forward to announcing further PGF funding for Taranaki as New Zealand transitions to a low emissions economy,” Peters says.