Energy

Decarbonising subsidies leverage $185m investment from businesses

Ian Llewellyn
Tue, 26 Apr 2022

Decarbonising subsidies leverage $185m investment from businesses
Taking natural gas out of capsicum growing- among other things. (Image: Deposit Photos)
Ian Llewellyn
Tue, 26 Apr 2022
Government subsidies worth $68 million have attracted $185m of private sector investment to decarbonise industrial processes, analysis shows.Energy minister Megan Woods today announced the latest allocation of money from the government investment in decarbonising industry (GIDI) fund.The third round of $13m in funding went to 15 businesses and was matched by $32.6m from industry.Over the life of the scheme, after three rounds so far, $68.7m in government contributions has levered $185.4m from business.It is estimated the lifetime emissions savi...

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