Financial support for waste and resource recovery infrastructure is available from a range of government agencies at both State and Commonwealth (Federal) levels.
Funding support from government departments is generally (but not always) characterised by the following features:
Government agencies that are not departments, such as the CEFC, provide more varied financial support mechanisms such as debt and equity financing, based on commercial interest rates (or discounts thereof).
Local government (councils) can sometimes also provide financial assistance, often through economic development agencies within council. To contact a relevant local council, see here for a list of all 79 councils in Victoria.
In the May 2016 State Budget, Sustainability Victoria was allocated $16 million to promote growth and investment in the resource recovery sector. Of this $16 million, the following was allocated to funding support programs over four years, which are now in development.
$20 million New Energy Jobs Fund, administered by the Department of Environment, Land, Water and Planning, is designed to support Victorian-based projects that create long-term sustainable jobs, increase the uptake of renewable energy generation, reduce greenhouse gas emissions and drive innovation in new energy technologies.
The $200 million Future Industries Fund is administered by the Department of Economic Development, Jobs, Transport and Resources. It is focused on industry sectors that have potential to drive significant jobs growth and attract future investment into the future.
The Regional Jobs and Infrastructure Fund (RJIF) is the Victorian Government’s overarching regional development package.
It will invest in growing jobs, building infrastructure and strengthening communities in regional Victoria.
LaunchVic works in partnership with entrepreneurs, industry, business, the community and our educational institutions to strengthen Victoria’s entrepreneurial and startup ecosystem.
Their focus is to invest in the infrastructure of Victoria’s startup ecosystem.
The Loddon Mallee Waste and Resource Recovery Group (LMWRRG) is one of 7 Waste and Resource Recovery Groups that cover Victoria and links state, local governments, community and industry.
The LMWWRG is responsible for facilitating a coordinated approach to the planning and delivery of infrastructure and services for all waste streams.
ARENA has approximately $2.5 billion in funding, which is legislated and extends until 2022.
ARENA funds activities that are expected to advance renewable energy technologies, improve business models or reduce industry costs.
The CEFC invests to increase the flow of finance into the clean energy sector. The CEFC also invests with co-financiers to develop new sources of capital for the clean energy sector, including climate bonds, equity funds, aggregation facilities and other financial solutions.
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