ARENA to receive USD 1.18bn in funding from Aussie govt

The Australian Renewable Energy Agency (ARENA) is to receive AUD 1.62 billion (USD 1.18bn/EUR 997m) in funding from the Australian government, it was announced on Thursday.

The funding package, announced by the Australian prime minister and minister for energy and emissions reduction, will include guaranteed baseline funding of AUD 1.43 billion over the next ten years.

Since it was established in 2012, ARENA has backed 543 renewable energy projects with AUD 1.58 billion. The agency has supported large-scale solar, grid-scale batteries, pumped hydropower, bioenergy, distributed energy technologies and hydrogen.

At present, ARENA's investment priorities are focused on integrating renewable energy sources into the grid, stepping up hydrogen uptake and supporting industry to lower emissions.

"There is still much work to be done but with an experienced team, industry knowledge and strong networks across a range of technologies and sectors, ARENA is well positioned to support Australia’s energy transformation and emissions reduction goals,” CEO Darren Miller said.

(AUD 1.0 = USD 0.729/EUR 0.616)

Choose your newsletter by Renewables Now. Join for free!