The Minister for Resources and Energy, Martin Ferguson AM MP, has announced the release of the draft Information Guide on the Renewable Energy Demonstration Program for public consultation.
Minister Ferguson said: "The $435 million Renewable Energy Demonstration Program (REDP) delivers one of the Government's key election commitments. It will accelerate the development and commercialisation of new renewable energy technologies in Australia by demonstrating these technologies on a commercial scale.
"The program aims to stimulate over $1 billion worth of investment in renewable energy technology, with the private sector contributing at least $2 for every $1 provided by the program. Funding will be subject to competitive, merit-based processes.
"The Australian Government is committed to ensuring renewable energy has a 20 per cent share in Australia's electricity supply by 2020. To achieve this goal, demonstration of new, renewable technologies is required on a commercial scale to help prove the technologies and attract further private sector investment.
"By reducing the risk of commercial deployment, the program will accelerate widespread use of renewable energy technology in Australia and assist in meeting the mandatory renewable energy target of 45,000 gigawatt-hours by 2020."
The draft REDP Information Guide provides detail on how the program will be operated and the eligibility requirements for projects applying for support under the program.
The draft REDP Information Guide is available from www.ret.gov.au.
Input on the REDP can be submitted to redp@ret.gov.au until 5 November 2008.