This funding combined with money from successful applicants will deliver about $810 million in renewable energy investment in Australia. The energy will be generated from wave technology, geothermal sources, and an integrated mini-grid project involving wind, solar, biodiesel and storage technologies.

“These projects will diversify Australia’s energy supply and help deliver the government’s expanded Renewable Energy Target of 20 per cent by 2020,” Ferguson said.

The two geothermal projects proposed by Petratherm and Geodynamics in South Australia deploy different technologies in two different geological settings. Both will significantly add to the body of knowledge supporting Australia’s geothermal energy sector.

Victorian Wave Partners’ project will see ocean energy technology deployed in Australia on a large scale for the first time.

Hydro Tasmania’s King Island project will demonstrate the integration of wind, solar and storage with a biodiesel generator. This will provide baseload and peak power for King Island’s mini grid system and reduce the Island’s reliance upon diesel generators. By facilitating the integration of renewables into the grid through elements such as frequency and voltage control, the project aims to reduce dependency upon baseload fossil fuel energy sources and will demonstrate integrated technologies that can help integrate renewables into electricity grids.

Following the May 2009 budget, solar energy applications were excluded from funding under the REDP, but were assessed by the Renewable Energy Committee against the original REDP guidelines. As announced last week, an Interim ACRE Board is being appointed and will this year make funding recommendations on the most prospective solar applications received. ACRE will also manage remaining REDP funds.