Federal Government to invest $330m to reduce emissions
The Federal Government will co-invest $330m to reduce industrial emissions and support the ongoing domestic production of key inputs into clean energy projects.
Under the Powering the Regions Fund, nine projects will receive a portion of the funding with the projects to cut yearly emissions by 830kt – the same as taking over a quarter of a million cars off Australian roads.
The funding includes $197m to maintain Australia’s domestic manufacturing capability in cement and aluminium.
Grants include, $94m to Queensland Alumina to reduce energy use, $52.9m to Cement Australia to reduce coal consumption and $50m to Adbri to reduce emissions intensity and reliance on imports.
A further $134m will support six decarbonisation projects covered under the Safeguard Mechanism which applies to companies that emit more than 100ktpa of carbon dioxide.
These grants include:
- $44.5m to Shoalhaven Starches to upgrade heat recovery in NSW
- $35.7m to Murrin Murrin Operations to shift to renewable energy in WA
- $32.9m to CSBP to reduce emission at the Kwinana facility in WA
- $20m to Grange Resources to electrify operations at the Savage River iron ore mine in Tasmania and modify furnaces to end coal use at the Port Latta iron pelting facility
- $700k to Liberty Bell Bay to trial replacing coke with locally produced charcoal
Federal Climate Change and Energy Minister Chris Bowen says the grants will future-proof Australia’s heavy industries.
“This $330m investment in Australia’s hard-to-abate manufacturing and mining facilities is about securing the future of high-quality, low-emissions products made right here,” he said.
“As global markets change rapidly – we’re supporting Australian industry to not only survive but thrive with our world-class products that support regional jobs across the country.”
