Australia and Germany have signed a deal worth 660 million Australian dollars ($440 million) to deepen cooperation in green hydrogen supply chains. 

Equally funded by both countries, the deal is a part of the German government's hydrogen global auction mechanism. 

The agreement was signed by Australian Minister for Climate and Energy Chris Bowen and German State Secretary for Economic Affairs and Climate Action Anja Hajduk.

Sailing Towards a Green Future

New energy sources like green hydrogen are crucial for the entire planet, as the world is currently on an energy transition journey by reducing dependence on traditional fuels like crude oil. 

Green hydrogen is produced with the help of wind and solar energy, and the German government regards it as one of the main energy sources in the coming years. 

"Australia is a key partner for Germany in our shared pursuit of climate neutrality, advancing the energy transition, and driving the growth of the hydrogen industry," said Hajduk. 

Bowen noted that renewable energy is crucial to Australia's "21st-century export prosperity." 

"The world needs it. We can make it, and we can ship it to our partners, or use it to make green products, chemicals, and fuels in Australia to export to the world. Australia has the sun and wind to be a renewable energy superpower, and a hard-won reputation as a trusted energy supplier," said Bowen. 

He added: 'This negotiation under the H2Global mechanism and the expanded Partnership with Germany will allow us to work together to seize the opportunity in hydrogen, and help realise Australia's renewable energy superpower potential." 

Net-Zero Targets

As the energy transition journey continues, both Australia and Germany have set strict net-zero targets, and are continuously working to ensure zero emissions on time. 

Australia has set a net-zero target by 2050, while Germany eyes to ensure zero emissions by 2045.