Powering the Regions Fund - Safeguard Transformation Stream

Powering the Regions Fund – Safeguard Transformation Stream

  • Applications remain open until 1 November 2024.
  • The grant ranges from $500K to $50M, covering up to 50% of eligible project expenses.

The Powering the Regions Fund's Safeguard Transformation Stream Round 1 grant offers up to $50 million to trade-exposed facilities, enabling them to decrease emissions and support Australia's emissions reduction goals.

Key Requirements

The Australian Government has allocated a total of $600 million throughout the program’s lifespan, with up to $300 million available for the initial round of the Powering the Regions Fund – Safeguard Transformation Stream over a four-year period.

The grant must be a minimum of $500,000 and a maximum of $50,000,000, covering up to 50% of eligible expenses, requiring a 10% cash contribution from you.

You’re accountable for remaining project costs, which can be supplemented by funding from various sources, including loans and grants from state, territory, and local governments. Projects already receiving funding from another Commonwealth government program are ineligible. While you can seek funding from multiple streams of the Powering the Regions Fund Program, each application must be for a distinct project and activities.

The primary goal of this grant opportunity is to reduce emissions at trade-exposed Safeguard facilities, aligning with their obligations under the Safeguard Mechanism.

Applicants must address all assessment criteria outlined, with the Committee evaluating applications based on the assigned weighting for each criterion. The application form includes questions related to the following assessment criteria, and the level of detail and supporting evidence should be commensurate with the project’s scale, complexity, and requested grant amount:

  1. Detail how the project will contribute to Australia’s emissions reduction targets for 2030 and 2050.
  2. Demonstrate capacity, capability, and resources to execute the project effectively.
  3. Evaluate the impact of the grant funding on the project’s outcomes.

What is eligible for funding?

The maximum project duration allowed is 48 months. Your project must be finalised by 31 March 2028.
Your project should aim to contribute to Australia’s emissions reduction targets by 2030 and achieve net zero emissions by 2050, with a minimum of $1,000,000 in eligible expenses.

Projects must be carried out either on-site at an eligible facility or on shared infrastructure linked to an eligible facility and the grantee, situated in Regional Australia (defined as areas outside a Greater Capital City, including Kwinana).

Grant applications are accepted within the range of $500,000 to $50,000,000.

The grant can be utilised for purchasing new or existing equipment, leasing machinery, constructing facilities, covering labour and associated costs, contracting services, conducting staff training relevant to project objectives, and decommissioning outdated equipment.

Expenditure must be incurred by the applicant within the project timeframe, directly associated with the project, used for mandatory project audit activities (if applicable), and comply with eligible expenditure guidelines.

What companies are eligible for funding?

To qualify, you must be the owner or operator of a trade-exposed safeguard mechanism facility, excluding new or expanded coal or gas production facilities, and hold an Australian Business Number (ABN).

Eligible entities include those incorporated in Australia, companies limited by guarantee, and incorporated associations.

Joint applications are permitted, with a designated lead organisation eligible to apply, spearheading the project.

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.