The Australian government has established a $750 million ($1 billion AUS) fund to support emerging clean energy technologies. The Clean Energy Innovation Fund will help technologies transition from the demonstration to commercial deployment stages, the government announced Wednesday. “Clean energy is central to the Government’s strategy to address climate change and meet our emissions reduction targets,” a press release says.
Under the Paris Agreement, the nation has established an economy-wide target to by 2030 reduce greenhouse gas emissions by 26 to 28 percent below 2005 levels.
“The $1 billion Clean Energy Innovation Fund will be jointly managed by the Clean Energy Finance Corporation (CEFC) and the Australian Renewable Energy Agency (ARENA), drawing on their complementary experience and expertise. It will provide both debt and equity for clean energy projects,” the release explains.
