11 October 2013
ARENA’s Chair Greg Bourne provided a keynote address at the recent Australian National Conference on Resources and Energy, delivered by the Bureau of Resources and Energy Economics.
While appreciating our bountiful supply of energy has allowed us to grow into a prosperous nation with a dynamic economy, Greg noted we are poorly portfolioed and a gradual shift away from a reliance on fossil fuels for power generation is imperative.
Greg highlighted ARENA’s approach to giving renewable technologies the edge they need to become competitive with traditional sources and acknowledged the longevity and stability in the ARENA funding profile enables us to leverage investment at the appropriate times, create investment confidence and move technologies along the pathway to true market bankability.
Greg discussed the opportunity presented by growing energy demand in off-grid areas and the high cost of liquid fuels in remote locations, to increase the uptake of renewable energy in these locations. He also discussed the opportunity to leverage existing infrastructure and produce renewable energy at a lower cost than standalone projects through developing hybrid plants.