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Australia’s Whyalla Steelworks, backed by a $2.4B bailout, aims to lead in green steel using renewable energy, but gas use risks costs and emissions.
Australia’s Whyalla Steelworks, saved by a $2.4 billion government bailout, could become a global leader in green steel production using renewable energy and hydrogen, according to a report by Clean Energy Finance and The Superpower Institute.
The facility’s access to high-quality magnetite ore and abundant solar and wind power positions it to cut steelmaking emissions by up to 90%.
However, relying on gas as a transitional fuel could cost taxpayers $1.7 to $2 billion over ten years, fail to meet European green standards, and undermine long-term competitiveness.
Experts urge prioritizing green hydrogen and off-take agreements to secure jobs and establish Whyalla as Australia’s first green steel hub.
Whyalla Steelworks de Australia, respaldada por un rescate de $ 2.4B, tiene como objetivo liderar en acero verde utilizando energía renovable, pero el uso de gas corre riesgos de costos y emisiones.