Powering the Regions Industrial Transformation Stream
Background
The 2023-24 Budget provided $400 million for the Industrial Transformation Stream grant program to support regional industrial decarbonisation across Australia, as part of the $1.9 billion Powering the Regions Fund (PRF).
The Industrial Transformation Stream seeks to support existing industrial facilities, and new clean energy developments, in regional areas to reduce their emissions, in line with Australia’s 2030 targets and in support of reaching net zero by 2050.
This funding allocated to us will aim at supporting industrial facilities to unlock barriers to decarbonisation by reducing Scope 1 and Scope 2 emissions, and will be open to a wide range of industries in regional locations, including manufacturing, mining, agriculture, and food processing.
There will also be support for third party aggregators who wish to support decarbonisation of SMEs, where the project relates to an eligible industrial facility.
The funding is expected to support trials, demonstrations, and small scale deployments of a wide range of technologies including energy efficiency, electrification, fuel switching, process heat, hybrid renewable energy, bioenergy and common user infrastructure that supports decarbonisation.
The funding is separate to the PRF’s $600 million Safeguard Transformation Stream to be administered by the Business Grants Hub.
This program will build upon our previous work and existing funding programs to drive industry to reduce emissions, including the Industrial Energy Transformation Studies Program (IETS) which is currently open for feasibility and engineering studies.
How it works
- Initial funding is expected to open to applications by late 2023.
- NGER facilities will be eligible to apply for funding.
- The program will be delivered over four years to FY2027.
- Further information including guidelines will be released following further consultation and program design.
Register your interest
For future updates on consultation, register your interest below.
Further reading
