Regional industries supported to cut emissions – ARENA

The Australian Renewable Energy Agency (ARENA) has welcomed new funding in the budget to deliver the Industrial Transformation Stream of the government’s Powering the Regions Fund.

As part of the $1.9 billion Powering the Regions Fund package, the government announced the $400 million Industrial Transformation Stream to support industrial facilities across Australia to reduce their emissions.

ARENA CEO Darren Miller said: “As Australia and the world looks to transition to net zero by 2050, we need to support industry to rapidly decarbonise.

“While the journey to transition our electricity system to renewable energy is well underway, the pathway to net zero is just beginning in many other hard to abate sectors. There is much to do, and no time to waste.”

Miller said the $400 million Industrial Transformation Stream would directly support industrial facilities in regional communities to reduce emissions and reduce energy costs by switching away from fossil fuels.

“In doing so, this funding will support new jobs and upskilling, and commercialisation of a wide range of energy efficiency, electrification, renewable energy, storage and flexible demand technologies needed to achieve our climate targets and set our industries up for success in a net zero world.”

Over more than ten years ARENA has supported over 650 projects with over $2 billion in funding working across the electricity sector as well as hard to abate sectors such as mining, metals refining and transport.

“As the agency at the forefront of Australia’s energy transition for over a decade, this budget programme will build upon our existing work and track record helping Australian businesses to reduce their emissions.”

Picture: ARENA