The Hon Dr David Kemp, MP
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Joint Media Release
Federal Minister for the Environment and Heritage
Dr David Kemp
Federal Minister for Industry, Tourism and Resources
15 June 2004
A new $100 million program for developing strategically important renewable energy projects is one key element of today's Energy White Paper announcement by the Prime Minister.
Australian Industry Minister, Ian Macfarlane, and Environment Minister, Dr David Kemp, welcomed the announcement of the establishment of the seven year Renewable Energy Development Initiative (REDI).
"REDI will be a competitive grants program, designed to give smaller scale renewable projects a leg-up to commercialisation," said Mr Macfarlane.
"Such projects can already access funding through our general industry assistance programs, but from the end of the year they will also have their own specifically tailored $100 million program," he said.
"This program is part of the Howard Government's broader objective of fostering an internationally competitive renewable energy industry," said Dr Kemp.
"REDI will provide support along the entire renewable energy innovation spectrum, helping projects move from proof-of-concept to commercialisation and then on to business collaborations," he said.
The program will support companies in developing and deployment of renewable energy technologies, while also providing assistance for a wider range of renewable energy activities including training programs; setting of industry standards; technology diffusion; and industry collaboration.
About 170 companies will be helped by REDI, laying the foundation to a competitive and diverse national renewable energy industry. It is envisaged the REDI grants will average $500,000 with a cap of about $5 million per project.
White Paper details are available at www.pmc.gov.au/energy_future