South Australia is to provide grants for four large scale renewable energy projects.
The funding is being administered through the state’s Renewable Technology Fund, an opportunity totalling $150 million launched in late August.
Investment guidelines issued via the fund called for projects in three key areas of renewable and clean energy technologies. These three areas are:
- Firm renewable generation;
- Storing energy in bulk; and
- Bioenergy.
The fund is comprised of 50 per cent grant funding, with the remaining $75 million then available as loans.
Large scale renewable energy projects span technologies
Premier Jay Weatherill’s office announced the four selected projects this week. They span a number of technologies, including advanced batteries, flow batteries, thermal energy storage from combusting waste and dispatchable solar-plus-storage. The fund will also pay out $8.1 million in grants for these winning projects in total.
“The incredible response to the Renewable Technology Fund and the diverse range of technologies represented in this round of funding shows how much potential exists in this industry of the future,” Mr Weatherill said.
He said the projects would also add clean energy capacity and boost power supply reliability, making local businesses more competitive.
In addition, Mr Weatherill said the Labor Party supports “renewables and public ownership of electricity assets”. He also said that the Liberal Party is “addicted to coal and privatisation”.
South Australia: a global clean energy hotspot
Energy Minister Tom Koutsantonis said major international businesses like Tesla and SolarReserve are investing in South Australia. This is because of the state’s world-class renewable energy resources, he added.
“The Renewable Technology Fund harnesses this momentum so we can drive new projects and also establish South Australia as a global hub for the storage of renewable energy,” he said.
“This funding leverages significant investment in four cutting edge projects that will showcase new technologies, create jobs and reduce demand on the grid.”
In March the State Government announced the $150 million Renewable Technology Fund – a key pillar of the state energy plan. The fund is designed to accelerate the transformation to the next generation of renewable energy technologies.
Companies from around the world have already submitted over 80 proposals because of this incentive. Proposed technologies include batteries, bioenergy, pumped hydro, thermal, compressed air and hydrogen.
