Victoria is calling upon global energy businesses to maximise new innovation grants and deliver renewable technologies that will power the state into the future.
The Victorian Government has invested $108 million through the Energy Innovation Initiative to push frontiers in energy innovation - and is inviting applications from emerging renewable technology businesses to accelerate the state’s journey to net-zero emissions by 2050.
The Energy Innovation Fund provides grants to help commercialise innovative projects, including feasibility/pre-investment studies, front-end-engineering-design, large scale pilots and demonstrations.
The Fund is designed to fund large-scale, innovative and transformational renewable energy projects.
The grants range from $2 million to $20 million, and span renewable hydrogen, energy storage and renewable biogas, to further grow Victoria’s renewable technology industry.
Eligibility criteria focus on a mid-term delivery timeframe for projects and either based in Victoria, or able to be connected to the Victorian grid. Electricity generation or storage projects also need to be compliant with Australian Energy Market Operator (AEMO) registration requirements.
Victoria is already a powerhouse of renewable energy, and the newly-announced funding will support the state’s rapidly expanding energy technology sector.
With abundant renewable resources, leading-edge supply chain capabilities and strong economic credentials, Victoria’s energy sector is ripe for the next phase of innovative renewables.
For more information on the initiative, visit Energy Innovation Fund. Applications are open and will close at 2pm on Thursday, 23 September 2021.
Learn more about The Energy Innovation Fund below.
For details on a range of energy and wider investment opportunities in Victoria, contact us.