The Minister for Resources and Energy, Martin Ferguson AM MP, has welcomed the strong industry response to the Government's $435 million Renewable Energy Demonstration Program (REDP).
Minister Ferguson said: "The Renewable Energy Demonstration Program is an integral part of the Australian Government's commitment to advance renewable technologies and increase the affordability of renewable energy generation. The Government received 61 REDP applications from 56 companies, an overwhelming response by industry."
Applications for the $435 million REDP closed on Wednesday 15 April 2009. The REDP aims to accelerate the commercialisation and deployment of new renewable energy technologies for power generation. Grants will be awarded to assist companies to demonstrate the technical and economic viability of their technology through large-scale projects. The applications received cover a broad cross section of renewable technologies including biomass, solar thermal and photovoltaic technologies, geothermal, wave energy and ocean thermal, hydro systems, wind, and combination technologies.
The $435 million REDP complements other Government initiatives, such as the:
- Carbon Pollution Reduction Scheme
- Expanded Renewable Energy Target
- $100 million Australian Solar Institute
- $50 million Geothermal Drilling Program
- $50 million Clean Energy Program
The 61 REDP applications are seeking $3.9 billion in funding for projects totalling $15.4 billion. The program is expected to fund a small number of large scale renewable energy projects.
Applications will be competitively assessed on merit against strict criteria. An independent Renewable Energy Demonstration Program Committee is being convened to assess the applications and make recommendations to the Minister.
Minister Ferguson said: "The Committee, expert advisers, and my Department will be working over coming months to finalise a shortlist for announcement. This will provide certainty to projects and enable job creation."
For further information on the Renewable Energy Demonstration Program visit www.ret.gov.au.