|Date Announced||May 2009|
|Agency||•Department of Resources, Energy and Tourism|
|Funding||AUD 700 million|
|Related Policies||Renewable Energy Fund
Clean Energy Intiative
Geothermal Drilling Program
Second Generation Biofuels Research and Development Program
Renewable Energy Equity Fund
|Policy Superseded by||AREA|
•RD & D
•Technology Deployment and Diffusion
•Multiple Renewable Energy Sources
|Policy Sector||•Multi-sectoral Policy|
|Size of Plant Targeted||Small and Large|
|Description||The Australian Centre for Renewable Energy (ACRE) is part of the AUD 5.1 billion Clean Energy Initiative. The Centre is a new body to promote the development, commercialisation, and deployment of renewable energy technologies and enabling technologies. ACRE is overseen by a specialist board with expertise in research, venture capital, intellectual property and commercialisation.
ACRE takes over management of grants awarded under the Renewable Energy Demonstration Program, the Geothermal Drilling Program, the Second Generation Biofuels R&D Program, the Wind Energy Forecasting Capability Program, the Advanced Electricity Storage Technologies progam and the Renewable Energy Equity Fund.
ACRE will furher implement the new Renewable Energy Venture Capital Fund, Australian Biofuels Research Institute and the Emerging Renewables Program.