Australia to invest $50m to support clean energy supply chains in Indo-Pacific
This will accelerate the development of clean energy projects.
The Australian Government has committed to invest $50m to ensure security and to boost the Indo-Pacific region’s clean energy supply chain.
In a statement, the Department of Climate Change, Energy, the Environment and Water said the fund will be used in the initial round of studies to speed up the investment-ready projects which coil include solar ingots, wafer production of battery component manufacturing.
“The world’s climate emergency presents economic opportunities to harness a growing global demand for clean energy," said Minister Chris Bowen.
“Diversifying and expanding supply chains is important to achieve Australia’s and our partners’ net zero targets,” he added.
The investment is also aligned with the implementation of the Quad Principles on Clean Energy Supply Chain which fund research and development to develop supply chains with solar, photovoltaics systems, hydrogen electrolysers, and batteries.