| 11/10/2005
- From today, the government's $500 million Low Emissions
Technology Demonstration Fund is open for business with
Australian Industry Minister, Ian Macfarlane, calling
for applications to develop the next generation of large-scale
greenhouse gas abatement technologies.
The Low Emissions Technology Demonstration Fund, a flagship
initiative of the Energy White Paper, will provide competitive
grants in the order of $20 million and upwards to individual
Australian projects demonstrating the commcercial viability
of their low-emissions technology.
Mr Macfarlane said the fund was expected to leverage an
additional $1 billion in private sector investment in
large-scale, long-term emission reduction technologies.
"The demonstration fund will support low-emission
technologies across the full spectrum of energy sources
- ranging from renewable energy initiatives to fossil
fuel and energy efficiency technologies," he said.
"It's a serious investment that will ensure Australian
industry is an active and innovative partner in securing
a low-emissions future for our nation."
Some of the technologies that could be eligible under
the fund include hot dry rocks, new renewable energy technologies
like large-scale solar concentrators, coal-fired generation
with carbon capture and storage, and energy efficiency
technologies in stationary and transport energy sectors.
"The key criterion will be the ability of the technology
to reduce Australia's energy sector emissions by at least
two per cent per annum over the longer term, and the potential
to be available commercially by 2020 to 2030," Mr
Macfarlane said.
Environment Minister, Senator Ian Campbell, said developing
low emissions technologies was one of the most pressing
challenges facing economies throughout the world, and
finding technological solutions is an essential component
of Australia's climate change strategy.
"Australia depends on both renewable and fossil fuel
energy sources in its energy mix, and we also need to
seek more efficient ways of using our energy. That is
why the fund is available to all energy technologies -
renewable and fossil fuel energy supplies, energy efficiency
and transport."
"Australian industry has been widely recognised for
its inventiveness and it now has an opportunity to develop
and drive the new generation of energy technologies,"
he said. |
