New energy deals tipped to drive Japanese investment in Australia

New energy partnerships are expected to drive a return in dealmaking between Australian and Japanese companies to pre-pandemic levels this year as Japan’s ongoing need for imported energy generates activity.

Japanese firms Kawasaki Heavy Industries, ENEOS and Iwatani Corp have financial support from a green innovation fund to develop hydrogen technology. However, Australia faces competition from other providers and will have to ensure it leverages off its existing relationships after decades of supplying commodities to Japan.

But Mr Williams said Japan’s continuing need for imported energy would ensure there would be a mix between fossil fuels and green energy for some time.“You have never seen such a collection of governments, government agencies, power utilities, industry technology companies, financiers, port operators, mining companies and logistics providers working together to make this hydrogen supply chain work,” he said.

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