The funding package was unveiled ahead of the State Government’s Energy Transition Summit, which will guide WA’s journey towards becoming a global renewable energy powerhouse.
“WA has the potential to become a global renewable energy powerhouse – not only meeting our own net zero targets, but helping our neighbours to transition away from coal to cleaner energy sources,” Premier Roger Cook said.
Premier Cook stated that the Government is supporting local industries in the energy transition, including battery assembly, manufacturing, hydrogen production, and critical minerals processing, to capitalise on opportunities for more jobs, a stronger economy, and cleaner, reliable, and affordable energy.
$60 million will be allocated to drive investments into new energy projects across WA through the Investment Attraction Fund (IAF).
The $60 million IAF New Energies Industries round has opened, funding projects in battery and critical minerals processing, renewable hydrogen, wind and solar componentry manufacturing, and carbon capture use and storage.
The IAF has supported various energy industry projects in the State, such as a high-purity alumina plant for battery cells, a renewable diesel biorefinery, an electrolyser, a hydrogen refuelling station network, and an advanced solar manufacturing facility.
$74 million will be invested into the Sectoral Emissions Reduction Strategies (SERS) to advance WA’s net zero ambitions.
The Cook Government plans to allocate an additional $11.2 million to its ‘Clean Energy Future Fund’ through SERS to support innovative projects to reduce emissions and generate local jobs.
Meanwhile, the Government’s Green Energy Approvals Unit will receive a $6.5 million boost to cut green tape and fast-track approvals for major job-creating clean energy projects.
Horizon Power will also receive a $31 million investment to help regional communities achieve net zero. The investment will include five new community batteries in Kununurra, Esperance, Exmouth, Carnarvon, and Denham, two long-duration energy storage trials in microgrid locations, and a renewable energy team in Horizon-powered towns.
The Cook Government plans to invest $2.2 million to install 70 dual-bay EV chargers at METRONET stations, aiming to increase the EV target in the State Government car fleet to 50%.
“Through our net zero commitment, development of legislation and enactment of SERS, our Government is delivering credible action on climate and providing industry the certainty and stability needed to make future decisions,” Climate Action Minister Reece Whitby said.
Energy Minister Bill Johnston commented, “This is a truly a cross-Government venture of several departments collaborating on the most efficient transition towards the State Government’s commitment to net zero by 2050.”