Fast tracking ARENA to Manage Large Scale Solar Power Projects

Australia’s solar flagship faced major setbacks and delays in the past few months, after a failure to enter a private financing deal another problem surfaced. According to Energy Minister Martin Ferguson a major issue that halted the progress of the project was a failure to establish a power purchase agreement with energy utilities for the solar farms.

Australia’s solar flagship programs will establish the backbone of the country’s large scale solar power projects and data will serve as the basis for further development. The alarming delay prompted GREENS leader senator Milne to call for the early establishment of the Australian Renewable Energy Agency (ARENA) and take over the country’s solar PV projects to prevent politics from meddling with it maximising opportunity and fast tracking progress given that it is an independent statutory body.

About the ARENA

The ARENA is a part of Australia’s Clean Energy Future Package that will manage the country’s $3.2 billion renewable energy investments, commercialisation of renewable energy technologies and research and development of the industry for continued progress and competitiveness. From the $3.2 billion total funding the ARENA will have a floating available fund of $1.7 billion for renewable energy investments in their discretion giving particular opportunity for large scale solar power farms, geothermal power plants, wave power and other emerging technologies that offer great potential which will be available from the establishment of the ARENA up to 2020.

Apart from the above mentioned the body will also be focusing in lowering the cost of homesolar panels and other decentralised RE technologies through continuous research and development. The ARENA will also be managing numerous initiatives of the government such as: ACRE Solar Projects, Renewable Energy Venture Capital Fund, Emerging Renewables Program, Geothermal Drilling and Bio-fuels program.

ARENA will have an independent, decision making Board appointed by the Minister for Resources and Energy, and will also have a CEO appointed by the Minister for Resources and Energy on the recommendation of the ARENA Board.

As soon as the body is established Australia’s large scale solar projects are expected to hit the right path and other renewable energy technologies will soon follow.