Many recent articles in the news have surrounded the general theme of increased funding as well as positive support for the renewable energy sector in Australia. The Southern Cross Renewable Energy Fund which has received $200 million in funding by the Federal Government and Softbank China Venture Capital is now ready to invest in Australian clean energy companies.
The fund is to date, the largest venture capital fund dedicated to clean energy in Australia and aims to actively seek private sector funding to support a range of companies, which forms part of the Federal Government’s $3.2 billion Australian Renewable Energy Agency in 1 July 2012.
The Federal Resources and Energy Minister Martin Ferguson has mentioned in an Eco Generation article today that almost $12 million of funding will be provided by the Australian Solar Institute to support ten Australian concentrating solar power projects. The funding includes proving 11 new scholarships to PhD students, 7 Postdoctoral Fellowships and over $2 million to support five projects under the “Australian-Germany Collaborative Solar Research and Development Program.”
It is definitely motivating to know that the Federal Government has funding and some concrete plans to support the renewable energy sector in its growth and development. This is important especially in Australia as our renewable energy market penetration is low, and we should definitely take advantage and leverage the natural resources we have.
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