$134 million boost to create jobs, reduce emissions

  • $74 million towards new initiatives to reduce WA’s greenhouse gas emissions
  • New $60 million ‘Investment Attraction Fund’ round opens, driving job creation in new energy industries
  • Cook Government to host Energy Transition Summit tomorrow

The Cook Government will deliver a $134 million funding boost to slash Western Australia’s greenhouse gas emissions and drive new job opportunities in clean energy industries.

The funding package comes ahead of the Cook Government’s landmark Energy Transition Summit, which will chart the course for WA’s journey to becoming a global renewable energy powerhouse.

The Cook Government is putting $60 million on the table to drive investment into new energy projects across the State through its flagship ‘Investment Attraction Fund’ (IAF).

The $60 million IAF New Energies Industries round opens today, offering funding for projects in battery and critical minerals processing, renewable hydrogen, advanced manufacturing in wind and solar componentry, along with carbon capture use and storage projects.

The IAF has previously supported energy industry projects across the State, including a high purity alumina plant for high-tech battery cells, a renewable diesel biorefinery, an electrolyser and hydrogen refuelling station network, and an advanced solar manufacturing facility.

The State Government will deliver a further $74 million into a range of initiatives to further WA’s net zero ambitions, as part of its Sectoral Emissions Reduction Strategies (SERS) process launched in December 2021.

Through SERS, the Cook Government will inject an extra $11.2 million into its ‘Clean Energy Future Fund’, to support innovative projects that reduce the State’s emissions and create local jobs.

Previous projects supported by the ‘Clean Energy Future Fund’ have included hydroelectric storage in Walpole, a microgrid for industry in Moora, and a big battery in Port Hedland.

The Cook Government will deliver a $6.5 million boost for its ‘Green Energy Approvals Unit’, to slash green tape and fast-track approvals for major job-creating clean energy projects.

To help WA’s regional communities reach net zero, the Cook Government will invest around $31 million through Horizon Power to deliver cleaner, reliable and affordable energy across the State.

The investment will deliver five new community batteries in Kununurra, Esperance, Exmouth, Carnarvon, and Denham, as well as two long-duration energy storage trials in microgrid locations, and a new team to deliver renewable energy across Horizon powered towns.

As part of efforts to support electric vehicle (EV) uptake, the Cook Government will invest $2.2 million to install almost 70 dual-bay EV chargers at new METRONET stations, and has lifted the EV target in the State Government car fleet to 50 per cent.

The State Government is developing SERS in consultation with all sectors to lay the foundation for transitioning to net zero by 2050.

The final SERS will include emissions reduction opportunities for all sectors of the WA economy, including electricity, industry, transport, agriculture, land use, buildings, and waste and will be announced before the end of 2023.

For more information on the Investment Attraction Fund, or submit an expression of interest head to Investment Attraction Fund: New Energies Industries Funding Stream (www.wa.gov.au)

As stated by Premier Roger Cook:

“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.

“We’re backing local industry to take advantage of the incredible opportunities in the energy transition – from battery assembly and manufacturing to hydrogen production and critical minerals processing.

“That means more local jobs, a stronger local economy, and cleaner, reliable and affordable energy for the future.”

As stated by Climate Action Minister Reece Whitby:

“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.

“Work is already underway to drive WA towards a zero emissions future.

“By working together, industry and Government can position WA to maximise the energy transition’s economic opportunities.

As stated by Energy Minister Bill Johnston:

“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.

“Diversifying the economy to deliver a cleaner, affordable and reliable energy future are key priorities which present challenges – but also enormous opportunities to position WA as a global green energy superpower.”

/Public Release. View in full here.