ARENA Doubles Project Commitments in 2023–24

The Australian Renewable Energy Agency (ARENA) has reported a landmark year in its annual report, with funding commitments doubling to 72 projects, totaling $392.5 million in the financial year 2023–24. This marks a significant rise from 35 projects and $358 million in 2022–23.

ARENA’s achievements include:

Community Batteries Round 1: Up to $143 million for 370 community batteries nationwide.

Hydrogen and Iron and Steel R&D: $59.1 million for 21 projects advancing renewable hydrogen and low-emissions metals.

CEO Darren Miller highlighted ARENA’s pivotal role in fostering public-private collaboration, stating, “Our strong partnerships with industry, regulators, and investors enable us to maximize the benefits of renewable energy for Australians.”

ARENA launched several major programs in 2023–24:

Hydrogen Headstart Round 1: $2 billion

Solar Sunshot: $1 billion

Battery Breakthrough Initiative: $500 million

Regional Microgrids Program: $125 million, including First Nations Community Microgrids Stream

Sustainable Aviation Fuel Funding Initiative: $30 million

With its role as the delivery agency for upcoming programs like Hydrogen Headstart Round 2 ($2 billion) and the Future Made in Australia Innovation Fund ($1.5 billion), ARENA is strategically positioned to accelerate Australia’s energy transition. Since its inception in 2012, ARENA has allocated $2.61 billion in grants, catalyzing nearly $12.63 billion in renewable energy investments.

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ARENA’s achievements underline the vital role of innovation and collaboration in meeting Australia’s climate goals, setting a strong foundation for a greener, net-zero future.