Federal Government allocates $14 million to facilitate local renewable energy manufacturing
The funding will support a Powering Australia Industry Growth Centre, which builds on the Government’s suite of support for the renewable technology industry, including Powering Australia, Rewiring the Nation and a Future Made in Australia.
The Albanese Government has earmarked $14 million for Powering Australia Limited. This funding injection will pave the way for the establishment of the Powering Australia Industry Growth Centre, to facilitate domestic production of renewable energy technologies.
The Centre's objectives are multifaceted, with a focus on catalyzing the commercialization of homegrown renewable energy technologies, fostering partnerships between critical minerals producers and renewable tech manufacturers, and integrating a First Nations Advisor to elevate Indigenous participation in renewable technology business management.
This strategic initiative fulfills a key electoral promise outlined in the Australia Made Battery Plan and compliments existing governmental support frameworks like Powering Australia, Rewiring the Nation, and the overarching Future Made in Australia agenda. Furthermore, it dovetails neatly with the priorities of the National Reconstruction Fund, particularly in the realm of renewables, resource value addition, and low-emission technologies.
According to the Hon Ed Husic, Minister for Industry and Science, the $14 million investment underscores the vast potential of batteries, renewables, and low-emission technologies to drive job creation and fortify Australia's sovereign capabilities.
"This $14 million investment is targeted support to grow Aussie know-how in these emerging areas," Husic said.
