15 May 2013
The Federal Budget announced changes that will re-profile ARENA’s annual allocation of funding to better fit with our investment plan and funding strategy.
Our existing $3 billion in funding will be extended by two years to 2021-22.
A top-up in departmental funding will also allow ARENA to move from start-up phase to launching a suite of new programs and initiatives, which will provide further funding opportunities for renewable energy projects.
Money previously announced for investment in solar projects through the Education Investment Fund – which was connected to ARENA but administered by the Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education (DIICCSRTE) – will be reduced by $159.7 million and the funding returned to the Education Investment Fund.