Solar power sector handed huge boost by ARENA funding

ARENA boss, Ivor
Frischknecht.

Australia is set to triple its large-scale solar energy capacity after funding from a threatened federal agency helped drive down costs almost to those of wind farms.

The Australian Renewable Energy Agency (ARENA) will announce the 12 projects that will share part of its latest funding round of about $100 million on Thursday.

The agency's chief executive, Ivor Frischknecht, said that when announced last September the funds had been expected to enable 200 megawatts of new solar capacity, compared with the 240 megawatts already in place.

Instead, the dozen ventures will deliver an extra 480 megawatts if all proceed, and drive $1 billion of investment in regional Australia.

Read Peter Hannam’s story in today’s Melbourne Age - “Solar power sector handed huge boost by ARENA funding.”