The Government is investing $19.9 million through the Provincial Growth Fund in a game-changing hydrogen energy facility in South Taranaki, says Deputy Prime Minister Winston Peters.

“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-term energy industry,” Peters said.

The joint venture between Ballance Agri-Nutrients Limited and Hiringa Energy Limited will see the production of green hydrogen from renewable electricity and water at a facility in Kapuni, South Taranaki. The green hydrogen produced will then be used to power the Ballance Agri-Nutrients‘ Kapuni plant.

“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,” said Peters.

“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.”

Peters says in the future, green hydrogen produced by these sorts of projects could fuel New Zealand‘s heavy transport industry.

This investment comes from a $40 million commitment from the PGF to support renewable energy projects. Through this the PGF has funded four hydrogen projects in Taranaki that lay the groundwork for a clean energy future for the region. Another $3.16 million 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 said.