ARENA opens applications for its industrial decarbonization plan
The agency launched the first funding round of the A$400m industrial transformation stream.
The Australian Renewable Energy Agency (ARENA) began the first funding round of the government’s US$259m (AU$400m) Industrial Transformation Stream (ITS) to reduce carbon emissions in industrial facilities in regional Australia.
For the first round, US$97m (A$150m) of ITS funding will be available for applications, with more focus on regional decarbonisation of industrial process heat and off-road transportation.
The Industrial Transformation Stream is one of the segments of the Powering the Regions Fund, completed by the Australian Government in the 2023-2024 federal budget.
The programme seeks to expand ARENA’s initiatives on low-emission metals, driving innovation in the industry, and supporting a net-zero environment.
“Progress in the industrial sector is vital to achieving our emissions reduction goals and will set Australia up as a renewable energy superpower that will maintain jobs and economic activity in our regions and capitalise on the world’s shift to green products," Darren Miller, CEO of ARENA, said.
"Now is the perfect opportunity for the industrial sector to make a meaningful change to adapt and future-proof their businesses as we head towards net zero emissions,” he added.
Currently, ARENA sponsored more than 660 projects with over $1.46b (AU$2.25b) in funding. Such projects will aid major sectors in Australia, from mining to transport, in their commitment to decarbonisation of 44% of total Australian emissions and net zero goals.
Submission of applications for the ITS will last from 30 November 2023 to December 2024.