Australian Government to Fund Clean Energy Supply Chains in the Indo-Pacific Region
Key Ideas
- The Australian government will open applications for a $50 million funding program to develop solar PV, hydrogen electrolyser, and battery supply chains in the Indo-Pacific region.
- The Quad Clean Energy Supply Chain Diversification Program aims to address gaps in the manufacturing capacity for critical clean energy materials and technologies.
- Australia's commitment will support research and development in the region to enhance energy security and foster cooperation among the Quad nations.
- Other initiatives announced at the Quad meeting include commitments from India, Japan, and the US towards renewable energy projects, such as solar manufacturing facilities and projects in the Indo-Pacific.
The Australian government is set to open applications for a $50 million funding program in November 2024 to boost the development of more diverse solar PV, hydrogen electrolyser, and battery supply chains in the Indo-Pacific region. The Quad Clean Energy Supply Chain Diversification Program, a partnership between Australia, India, Japan, and the US, will offer grants ranging from $100,000 to $2.5 million to support research and development in the region. Australian Prime Minister Anthony Albanese emphasized the importance of diversifying and expanding clean energy supply chains to enhance collective energy security in the region. The program aims to accelerate the development of investment-ready projects in areas like solar ingots, wafer production, and battery cell component manufacturing. Additionally, commitments from India, Japan, and the US were announced, including funding for solar projects, grants and loans for renewable energy projects, and support for solar manufacturing facilities in India. These initiatives highlight a collaborative effort to promote renewable energy and strengthen clean energy supply chains in the Indo-Pacific region.
Topics
Projects
Clean Energy
Renewable Energy Projects
Battery Technologies
Funding Program
Regional Cooperation
Indo-Pacific Region
Solar PV
Quad Partnership
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