Martin Ferguson
Minister for Resources and Energy
Minister for Tourism
Greg Combet
Minister for Climate Change and Energy Efficiency
The Government will establish a new agency, the $3.2 billion Australian Renewable Energy Agency (ARENA) to consolidate support for renewable energy technology development as part of its package of measures for Australia’s clean energy future.
ARENA will bring together in one independent statutory agency within the Resources, Energy and Tourism portfolio a range of initiatives previously administered separately through a range of bodies, including the Australian Centre for Renewable Energy and the Australian Solar Institute.
Around $1.7 billion in uncommitted funding from the range of consolidated programs will be available for the ARENA Board to direct investment in new renewable energy projects between now and 2020.
The Government has a strong record of delivering support to our renewable sector and ensuring that Australians get value for money on their investments, such as through the recently announced successful Round 1 Solar Flagships applicants. The establishment of ARENA will build on this record.
Continued strong investment in renewable energy technology research and development is fundamental for Australia’s transition to cleaner baseload energy sources. Government support to fill market gaps and drive down costs will help us to achieve this transition.
ARENA will have an independent decision making Board appointed by the Government. ARENA will also have a Chief Executive Officer appointed by the Minister for Resources and Energy on the recommendation of the ARENA Board.
ARENA will have responsibility for managing a range of initiatives including:
- Solar Flagships Round 1;
- Renewable Energy Demonstration Program;
- ACRE Solar Projects;
- Geothermal Drilling Program projects;
- Australian Biofuels Research Institute (ABRI) initiatives;
- Emerging Renewables Program;
- Renewable Energy Venture Capital Fund;
- Australian Solar Institute;
- Low Emissions Technology Demonstration Fund (Solar);
- Second Generation Biofuels Research and Development Program; and
- unallocated funding from the Connecting Renewables Initiative.