One of the state’s biggest industrial sites, Kooragang Island, has received a huge grant to install an emission reduction system.
Through the NSW Government’s Net Zero Industry and Innovation Program, site owner Orica has received $13 million for a Decarbonisation Project, an emissions reduction system which will almost half the emissions that come from the site.
The project is expected to start in August 2022 and will take three months to complete.
Minister for Energy and Environment Matt Kean said the project is expected to reduce emissions from Orica’s three nitric acid plants by up to 92 per cent.
“This is the first of many major projects to be funded out of our $750 million Net Zero Industry and Innovation Program, which will help businesses accelerate their transition to net zero while remaining competitive and creating jobs,” Matt Kean said.
“Orica’s new emissions reduction system is expected to cut 567,000 tonnes of carbon dioxide equivalent each year, which is equal to emissions from 50,000 Newcastle homes.”
“This is a massive abatement at one of the State’s largest heavy industrial sites, which will help New South Wales meet its target of halving emissions by 2030.”
Orica Managing Director and Chief Executive Officer Sanjeev Gandhi said Orica has been able to co-invest and move forward on implementing a significant decarbonisation project, thanks to the support of the New South Wales and Federal governments.
“The project ensures Orica’s domestic manufacturing operations remain competitive in a low carbon economy, bringing with it significant environment, economic and social benefits for the region,” Sanjeev Gandhi said.
“It also allows us to look at longer-term investments in technologies including production of hydrogen from renewable energy.”
This project is the first funded out of the NSW Government’s $750 million Net Zero Industry and Innovation Program, with Orica’s share financed through a loan from the Federal Government’s Clean Energy Finance Corporation.