ANNOUNCEMENT 15 Apr 2020

The Australian Renewable Energy Agency launched a funding round for Australian producers of hydrogen.

NUMBER OF INTERVENTIONS

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  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Australian Renewable Energy Agency. News. "ARENA opens $70 million hydrogen deployment funding round" Available at: https://arena.gov.au/news/arena-opens-70-million-hydrogen-deployment-funding-round/

Inception date: 15 Apr 2020 | Removal date: 05 May 2021

Financial grant

On 15 April 2020, the Australian Renewable Energy Agency (ARENA) announced the launch of an AUD 70 million (ca. USD 44.9 million) funding round to support the hydrogen industry. These resources will be distributed in the form of grants.

The funding round seeks to support two or more large scale renewable hydrogen projects with the objective to reduce production costs in order to achieve the goal of "H2 under $2".

During the announcement, the CEO of ARENA said: "[...] the funding round is a significant step in progressing the commercialisation of hydrogen production in Australia and opening up domestic and international hydrogen market opportunities."

 

The Australian Renewable Energy Agency (ARENA)
ARENA is a publicly financed corporation which, among other duties, provides, funding for research in clean energy; development, deployment and commercialization of renewable energy; and the storage and dissemination of information related to clean energy.

To achieve its objective, the Government approved over AUD 2.5 billion (over USD 2.55 billion) that are to be distributed mainly in the form of grants each financial year starting in the 2012-2013 period, up until the financial year 2019-2020. 

Update:

On May 5th, 2021, ARENA increased the initial budget by AUD 33.3 million (USD 25.8 million). 

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