Australia forms renewable energy entity
Canberra, 08.07.2011 - CCH Political Alert
Australia's Minister for Resources and Energy, Martin Ferguson, and the Minister for Climate Change and Energy Efficiency, Gren Combet, announced that the country's government will establish a new agency, the $3.2 billion Australian Renewable Energy Agency (ARENA) to consolidate support for renewable energy technology development as part of its package of measures for Australia's clean energy future.
ARENA will bring together in one independent statutory agency within the Resources, Energy and Tourism portfolio a range of initiatives previously administered separately through a range of bodies, including the Australian Centre for Renewable Energy and the Australian Solar Institute. Around $1.7 billion in uncommitted funding from the range of consolidated programs will be available for the ARENA Board to direct investment in new renewable energy projects between now and 2020.