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Joint Media Release
Australian Minister for the Environment and Heritage
Senator the Hon. Ian Campbell
Australian Minister for Industry, Tourism and Resources
11 October 2005
From today, the government's $500 million Low Emissions Technology Demonstration Fund is open for business with Australian Industry Minister, Ian Macfarlane, calling for applications to develop the next generation of large-scale greenhouse gas abatement technologies.
The Low Emissions Technology Demonstration Fund, a flagship initiative of the Energy White Paper, will provide competitive grants in the order of $20 million and upwards to individual Australian projects demonstrating the commercial viability of their low-emissions technology.
Mr Macfarlane said the fund was expected to leverage an additional $1 billion in private sector investment in large-scale, long-term emission reduction technologies.
"The demonstration fund will support low-emission technologies across the full spectrum of energy sources - ranging from renewable energy initiatives to fossil fuel and energy efficiency technologies," he said.
"It's a serious investment that will ensure Australian industry is an active and innovative partner in securing a low-emissions future for our nation."
Some of the technologies that could be eligible under the fund include hot dry rocks, new renewable energy technologies like large-scale solar concentrators, coal-fired generation with carbon capture and storage, and energy efficiency technologies in stationary and transport energy sectors.
"The key criterion will be the ability of the technology to reduce Australia's energy sector emissions by at least two per cent per annum over the longer term, and the potential to be available commercially by 2020 to 2030," Mr Macfarlane said.
Environment Minister, Senator Ian Campbell, said developing low emissions technologies was one of the most pressing challenges facing economies throughout the world, and finding technological solutions is an essential component of Australia's climate change strategy.
"Australia depends on both renewable and fossil fuel energy sources in its energy mix, and we also need to seek more efficient ways of using our energy. That is why the fund is available to all energy technologies - renewable and fossil fuel energy supplies, energy efficiency and transport."
"Australian industry has been widely recognised for its inventiveness and it now has an opportunity to develop and drive the new generation of energy technologies," he said.
For more information about the fund visit: www.ausindustry.gov.au (on front page)
Renae Stoikos (Minister Campbell) (02) 6277 7640 or 0418 568 434
Kirsty Boazman (Mr Macfarlane) (02) 6277 7580 or 0412 171 444