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ARENA ready to invest

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12 November 2012


The Australian Renewable Energy Agency’s (ARENA) inaugural funding strategy released today marks the beginning of unparalleled investment in renewable energy technologies in Australia.

Minister for Resources and Energy, Martin Ferguson AM MP, welcomed the release of ARENA’s General Funding Strategy and Investment Plan, which paves the way for increasing the supply and improving the competiveness of renewable energy technologies in Australia.

“Today ARENA has sent a clear signal to investors about how it will help to achieve one of the most important objectives of the Australian Government’s Clean Energy Future package: bringing more efficient and competitive renewable energy technologies to the market,” Minister Ferguson said.

“I am pleased to see that ARENA has identified a real opportunity for renewables in regional and remote locations. Some of the best renewable resources are found in remote and off-grid environments in Australia, where the high cost of fossil fuel generation and increasing demand from industry creates opportunities for the deployment of large scale renewables.”

Minister Ferguson said ARENA has $2.2 billion in uncommitted funding ready to be directed to projects with the greatest potential to drive change in how consumers receive their electricity.

“By 2035, clean energy sources could potentially supply about 40 per cent of Australia’s electricity needs, or around four times as much as today.

“ARENA was established to make tough decisions to help Australia to achieve this and I believe ARENA is doing that with its announcement today.”

Minister Ferguson said he was pleased the announcement reflects feedback from the sector through a national forum, roundtables and written submissions.

“This strategy allows ARENA to be flexible and responsive to the market and works to Australia’s strengths.

“ARENA is continuing the Australian Solar Institute’s successful PhD scholarship and post-doctorate fellowship program helping to deliver the next generation of world-leading Australian solar researchers.”

ARENA is a $3.2 billion Australian Government commitment to improve the competitiveness of renewable energy technologies and increase the supply of renewable energy in Australia. It is part of the Government’s Clean Energy Future package.

The General Funding Strategy, Investment Plan and technology fact sheets are available at

Media contact: Elyse Gatt - 0407 198 136