The Commonwealth Government announced the creation of a $652 million Renewable Energy Future Fund in its 12 May 2010 budget statements, as part of the expanded $5.1 billion Clean Energy Initiative.
According to the budget papers, funding will be used to provide support for the development and deployment of renewable energy projects, including wind, solar and biomass. Through partnerships between the Government and the private sector, it will leverage private funds in critical early stage investments to support the commercialisation of renewable technologies.
The Fund will provide additional support:
- for the development and deployment of large and small scale renewable energy projects, for example further investments in geothermal, solar and wave energy; and
- to enhance take-up of industrial, commercial and residential energy efficiency, helping Australian businesses and households reduce their energy consumption.
Further details of the Renewable Energy Future Fund are due to be announced shortly.
Please contact Robert Gregory or Sean Rush with any queries about the Renewable Energy Future Fund, including how to access the fund.
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