A $134 million investment is set to significantly reduce greenhouse gas emissions in Western Australia while supporting employment opportunities in the clean energy sector.
- $74 million allocated to initiatives to reduce greenhouse gas emissions
- Launch of $60 million Investment Attraction Fund round to support job creation in new energy industries
- Energy Transition Summit hosted by the Cook Government tomorrow
A $134 million cash injection aims to significantly reduce Western Australia's greenhouse gas emissions while supporting employment opportunities in the clean energy sector.
This initiative precedes the Energy Transition Summit, a key event hosted by the Cook Government that will outline the state's path to becoming a world leader in renewable energy.
The Cook Government is committing $60 million to the Investment Attraction Fund (IAF) to catalyse investment in new energy projects across the state.
The newly launched $60 million IAF New Energies Industries Round will provide financial support for initiatives in battery and critical minerals processing, renewable hydrogen, advanced manufacturing in wind and solar components and carbon capture and storage projects.
Past IAF beneficiaries include projects such as a high-purity alumina plant, a renewable diesel biorefinery, an electrolyser and hydrogen refuelling network, and an advanced solar manufacturing facility.
In addition, $74 million will be invested in various initiatives to advance Western Australia's net zero targets through Sectoral Emissions Reduction Strategies (SERS).
The Clean Energy Future Fund will receive an additional $11.2 million to support innovative emission reduction projects.
In addition, $6.5 million will be allocated to the Green Energy Approvals Unit to streamline approvals for major clean energy projects, while approximately $31 million will be invested by Horizon Power to improve energy sustainability in regional communities.
Other efforts include a $2.2 million investment to install nearly 70 dual-bay EV chargers at new METRONET stations and increasing the State Government's EV target for new vehicles to 50 per cent.
The development of SERS involves cross-sector collaboration to pave the way for achieving net zero emissions by 2050, with final strategies expected to be announced before the end of the year.
For more information or to register your interest in the Investment Attraction Fund, please visit Investment Attraction Fund: New Energy Industries Funding Stream.