Powering the Regions Fund – Critical Inputs to Clean Energy Industries – Primary Steel Production Sector

Overview

This grant opportunity was announced in alignment with the Powering the Regions Fund objective of supporting the development of new clean energy industries. Funding of $200 million has been allocated to the Critical Inputs to Clean Energy Industries – Primary Steel Production Sector to help ensure this sector maintains a presence in Australia and continues to deliver critical inputs for the infrastructure and supply chains needed for Australia to be a renewable energy powerhouse.  The objectives of this grant opportunity are to: support and sustain sovereign manufacturing capability during the net zero transformation ensure the continued availability of locally produced primary steel, which is a critical input to the clean energy supply chain support an emissions-intensive hard to abate sector and advance development of new clean energy industries, aligned with Australia’s ambition to become a renewable energy powerhouse reduce the risk of carbon leakage, which occurs when a business responds to emissions reduction policies by moving emissions-intensive production to a country with less stringent policies. The intended outcomes of the grant opportunity are: continued domestic production of primary steel, until at least 2030 and beyond  increased deployment and commercialisation of low emissions technologies  increased ability for the sectors to contribute to decarbonisation and transformation to net zero, and pursue new clean energy and value-adding opportunities, including export opportunities increased consideration of upstream inputs to support decarbonisation pathways.