Australia ranked third globally for attracting FDI in renewables

Australia was the third most attractive destination for foreign direct investment (FDI) into renewable energy in 2022, according to a new report from fDi Intelligence.

Australia’s large-scale green hydrogen projects 

Australia’s growing number of green hydrogen projects was a major driver of its strong ranking. The fDi report ranked Australia third globally for attracting investment in green hydrogen. 

Australia had more than 100 green hydrogen projects in 2022, double the number in 2021. Its project pipeline increased in value from A$230 billion in 2021 to A$300 billion in 2022. Australia also has around 40% of all announced global hydrogen projects. 

Major green hydrogen commitments include: 

Find out more about Australia’s A$40 billion green hydrogen industry in the State of Hydrogen 2022 report

Concept image showing solar panels, wind turbine generators, and battery storage in a cleared, gravel area with blue sky and clouds above

Wind, solar and batteries on the rise 

The fDi report also ranked Australia in the top 10 for attracting FDI in wind, solar and batteries. 

French renewables giant Neoen is currently building its fifth big battery in South Australia. The company has invested more than A$3 billion to date in Australian renewables since 2012. It has 17 large-scale renewable energy projects in operation or under construction. Around 35–40% of its global installed capacity is in Australia.  

Other wind, solar and battery projects include: 

About the Global Renewable Energy Leaders report 

fDi’s inaugural Global Renewable Energy Leaders report looks at 3 main indicators to identify the world’s most successful renewable energy FDI destinations.  

These indicators were: 

  • the number of announced FDI projects 
  • their capital expenditure 
  • estimated jobs creation.  

The indicators were sourced through greenfield investment monitor fDi Markets.  

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