Tens of thousands of jobs, billions of pounds in investment and new export opportunities will be unlocked through the British Government’s plans to create a thriving low carbon hydrogen sector in Wales and the UK over the next decade and beyond.
The UK’s first-ever Hydrogen Strategy drives forward the commitments laid out in the Prime Minister’s ambitious 10 Point Plan for a green industrial revolution by setting the foundation for how the Conservative Government will work with industry to meet its ambition for 5GW of low carbon hydrogen production capacity by 2030 – which could replace natural gas in powering around 3 million UK homes each year as well as powering transport and businesses, particularly heavy industry.
A booming, UK-wide hydrogen economy could be worth £900 million and create over 9,000 high-quality jobs by 2030, potentially rising to 100,000 jobs and worth up to £13 billion by 2050. By 2030, hydrogen could play an important role in decarbonising polluting, energy-intensive industries like chemicals, oil refineries, power and heavy transport like shipping, HGV lorries and trains, by helping these sectors move away from fossil fuels.
Commenting, Welsh Conservative Shadow Minister for Climate Change, Janet Finch Saunders MS said:
“Today’s announcement by the British Government sets out a serious and ambitious plan to kickstart the UK’s hydrogen revolution. “Hydrogen energy offers a homegrown, low-carbon alternative to fossil fuels which could provide a third of our energy in the future, and Wales has the chance to be at the forefront of this technology. “Wales is home to a dedicated hydrogen vehicle manufacturer, and the hydrogen research centre at the University of South Wales, meaning we are well-placed to make the most of the opportunities which this landmark strategy provides. “The Conservative Government has also committed substantial funding to a number of hydrogen projects in Wales including the Holyhead Hydrogen Hub and the Milford Haven Energy Kingdom, as we look to help our economy recover, create new jobs and meet our target of net zero by 2050.”