The Australian Renewable Energy Agency (ARENA) was established on 1 July 2012 and aims to improve the competitiveness of renewable energy technologies and increase the supply of renewable energy in Australia.
ARENA has approximately $2.5 billion allocated until 2022 to support the:
- research, development, demonstration, deployment and commercialisation of renewable energy and related technologies
- storage and sharing of knowledge and information about renewable energy technologies.
ARENA supports activities that have the best chance of success and looks for at least matched funding and co-investment. Each dollar of ARENA funding has leveraged approximately 1.5 dollars of funding from other resources.
Current ARENA programs include:
- Research and Development Program: Supports world-class research and development in priority renewable energy technologies.
- Advancing Renewables Program: Supports activities that reduce the cost or increase the value delivered of renewable energy, advance renewable energy technologies towards commercial readiness, reduce or remove barriers to uptake, or increase relevant skills, capacity and knowledge.
This includes the Large-scale solar photovoltaics - competitive round. ARENA announced the 12 successful projects on 8 September 2016 in a major milestone that is expected to triple Australia's large-scale solar capacity from 240 MW to 720 MW.
- Renewable Energy Venture Capital Fund: This program was created to provide venture capital and active investment management to encourage the development of Australian companies that are commercialising renewable energy technologies. The Fund has committed capital of up to $120 million and is managed by private sector fund manager, Southern Cross Venture Partners Pty Ltd.
More information on these initiatives, and the overall strategic and investment mandate of ARENA, is available on the ARENA website
The Clean Energy Council has worked hard to establish and maintain a strategic relationship with ARENA.