11 July 2011

The Australian government will commit A$3.2 billion (US$3.4 billion) to create an agency to support renewable energy development.

The Australian Renewable Energy Agency (ARENA) – which was announced by the Greens last week, will fund development across solar energy, geothermal and biofuels technology. The agency will sit within the resources, energy and tourism department and will bring together work previously performed by several organisations.

“Around A$1.7 billion in uncommitted funding from the range of consolidated programmes will be included in the A$3.2 billion to be spent between now and 2020,” the government said in statement.

Source: Environmental Finance