Wednesday, 11 September 2019 12:09

ARENA focuses new investments on renewable energy technologies

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The Australian Renewable Energy Agency (ARENA) has launched its new investment plan, setting out three new priority areas aimed at further improving the competitiveness of renewable energy technologies and increasing the supply of renewable energy in Australia.

ARENA says funding allocated through the investment plan will be directed towards projects that support the integration of renewables in the electricity system, accelerate the development of Australia’s hydrogen industry for domestic and export and support industry to reduce emissions.

As at the end of June 2019 this year, $1.44 billion in funding - with a total project value of $5.49 billion - has been invested in renewable energy projects by ARENA.

ARENA CEO Darren Miller, said the agency’s investment priorities were updated following consultation with industry and government and focus on areas that can best assist with the energy transition underway in Australia.

“The transition is underway but there is still a lot of work to do and ARENA has the expertise and deep understanding of the renewable energy sector to help address the long term needs,” said Miller.

“Our new investment priorities are geared towards future proofing our energy system and economy and helping to further unlock the vast renewable resources Australia has.

“We need to overcome the challenge of integrating renewables into the grid as we switch to an electricity system that is more complex, more decentralised and more variable.

“We need to launch a hydrogen industry to create opportunities across the domestic economy and to help position Australia to become a major renewable energy superpower through exporting hydrogen.

“Finally, we need to support industry, which accounts for around 40 per cent of total final energy use in Australia, as they transition to renewables and look to reduce emissions.

“Without our financial support the pathway to commercialisation would be blocked for many new technologies and businesses so ARENA we has an important role to play.

“I look forward to delivering our plan and encourage the R&D community and businesses - particularly those in industry - to visit our website to discover more about available funding opportunities.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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