The Victorian government has allocated $10 million in funding for local bioenergy projects in a bid to encourage more investments in the sector. The funding is the biggest ever grant awarded to the state’s bioenergy industry, according to a press release issued by Sustainability Victoria.
The Waste to Energy Fund: Bioenergy project will support businesses in a wide array of sectors, such as agricultural and livestock, forestry, food production, food retail, and wastewater management.
Among its goals, the latest government investment is aimed at creating new opportunities for regional development, including long-term employment. The funding also seeks to deliver additional means of revenue for primary producers.
The initiative is also expected to deliver an additional 5,000 kW to the state’s energy production.
The funding will support projects at different stages under two streams, with the first supporting initiatives that seek to scope, test, and gain approvals to achieve their pre-financial close phases of a bioenergy project. This stream can provide funding ranging from $20,000 to $250,000.
Stream 2 can grant up to $50,000 to $1 million in funding to projects with a proven business case to purchase, construct, and commission infrastructure designed to convert organic matter into bioenergy.
Eligible organisations can submit applications to Sustainability Victoria. Interested companies have until 26 August to apply.
“We look forward to encouraging new bioenergy projects which will not only help the resource and renewable energy sectors, but also offer a massive opportunity for regional investment and growth,” said Matt Genever, interim CEO of Sustainability Victoria.
