- Victoria has launched round 2 of its EIF funding to support commercialization of innovative, emerging renewable energy technologies
- Round 2 will accept proposals from solar, wind, green hydrogen, waste-to-energy/bioenergy and storage as eligible technologies
- Funding amount may not exceed 50% of the project’s eligible expenditure
The Department of Environment, Land, Water and Planning (DELWP) of the Victorian State Government’s Energy Ministry has launched a call to financially support commercialization of innovative, emerging renewable energy technologies under round 2 of its Energy Innovation Fund (EIF).
The EIF is a state funding mechanism to support efforts that will help in the achievement of Victoria’s net-zero carbon emission target by 2050, while promoting diversity of energy resources in its energy mix. It is part of the state government’s AUD 108 million energy innovation package announced in the state budget. According to the state energy ministry, there will be close to AUD 90 million funding available for projects supported through the EIF.
While round 1 focused on offshore wind technology alone, round 2 is subject neutral with eligible technologies being solar, wind, green hydrogen, waste-to-energy/bioenergy and storage. These need to be in the pre-commercial stage having reached technology readiness level (TRL) 9 or has a demonstrable pathway to reach TRL 9 by 2025.
Eligible projects can expect to secure funding amount of between AUD 2 million to AUD 20 million, with the total grant not exceeding 50% of the project’s eligible expenditure.
“Large-scale energy transformation in Victoria requires a diverse mix of emerging energy technologies, some of which are yet to become commercially viable on their own. To support the continued development in this sector, Round 2 is open to any renewable energy technology that satisfies the eligibility criteria,” stated the state government.
Details of the call and eligibility criteria are available on the Energy Ministry’s website with last date of submission being September 23, 2021. An online briefing session is scheduled for August 16, 2021 for interested stakeholders.
The government is also exploring competitive auctions to promote the share of renewables in its future energy supply. In Q3/2021, it is likely to hold its 2nd renewable energy target auction for a minimum of 600 MW capacity (see Victoria To Seek Minimum 600 MW RE Under VRET2).