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Powering the Regions – Critical Inputs to Clean Energy Industries – PSPS
- Applications: open on 7 September 2023 and until 2 November 2023. Eligible applicants will receive an invitation to submit their application.
- Grants: from $10 million to $190 million
The Australian Government has launched a grant initiative in accordance with the Powering the Regions Fund’s (PRF) goal of fostering the growth of new clean energy industries. The Critical Inputs to Clean Energy Industries (CICEI) Program has been allocated $200 million to the Primary Steel Production Sector (PSPS) to ensure its continued presence in Australia and its ability to supply the necessary infrastructure and supply chains for Australia to become a leader in renewable energy.
The objectives of this program are to:
- support and sustain sovereign manufacturing capabilities during the net-zero transformation
- assure the continuous availability of locally made primary steel, which is an essential component of the clean energy supply chain
- assist an emissions-intensive, difficult-to-reduce sector and encourage the development of new clean energy industries, in line with Australia’s goal of becoming a renewable energy powerhouse
- lower the risk of carbon leakage, which occurs when a company responds to emissions-cutting legislation by shifting emissions-intensive production to a nation with laxer regulations.
The intended outcomes of the program are:
- continuous domestic primary steel production through at least 2030 and possibly beyond
- increasing commercialisation and deployment of low-emission technology
- improved sector’s ability to contribute to decarbonisation and net-zero transformation, as well as seek new clean energy and value-adding opportunities, including export prospects
- increased consideration of upstream inputs to promote decarbonisation pathways.
What is eligible for funding?
We can only accept applications that meet the following criteria:
- The applicant commits to maintaining domestic production until at least 2030.
- The applicant certifies that they have the facility owner’s or their representative’s permission to carry out the project.
- The applicant provides evidence from their board (or chief executive officer or equivalent if no board exists) that the project is supported and that they can complete the project while meeting the costs not covered by grant funding.
- The applicant provides documentation from their board (or chief executive officer or equivalent if no board exists) that there is a corporate commitment to reduce greenhouse gas emissions by 2030 and achieve net zero by 2050. Relevant forms of proof include, but are not limited to, a transition strategy in accordance with the Australian Securities and Investment Commission’s recommendations.
- The applicant supplies all required attachments.
What companies are eligible for funding?
To be eligible applicants must:
- have been asked to participate
- have an ABN (Australian Business Number)
- be a member of Australia’s main steel-producing sector at the time these guidelines are issued
And be one of the following entities:
- a company incorporated in Australia
- a corporation limited by guarantee
- a company that has been formed
Is this grant competitive or entitlement based?
Competitive. Your application will be assessed among other applications by a judging panel.
How can I increase my chances of winning this grant?
By engaging an accredited government grants consultant, such as Avant Group.
Competitive grants often require significant business case development and project analysis to support the application, this may include detailed presentations supporting the project’s merit, projected sales, cost-benefit analysis and more.
As part of your engagement with Avant Group, your account manager will assess the required documents and will provide the following as needed to support your grant submission.
Grant application writeup including a detailed presentation illustrating how the grant funding will contribute to your project, how the funding will contribute to the project’s budget, a project milestone plan, delivery timeline, impact on employment if applicable, and a breakdown of the management and leadership team for the project
- Industry analysis presentation
- Competitor Analysis Presentation
- Marketing and Sales Analysis Presentation
- 3-5 year Cashflow Forecast
- 3-5 year Balance Sheet Forecast
- Cost-Benefit Analysis of Grant Funding
- End-to-end grant application including information collating, analysis and application writing
- CAPEX (Capital Expenditure) cost-benefit analysis
- Stakeholder relations and Risk Mitigation Plans
- Any other relevant forecasting that will support your application
How can I get help with my application? Or know if I’m likely to win funding?
Avant Group offers a no-obligation assessment of your eligibility for funding and will assess your likelihood of a successful grant application.