The Victorian Government has developed the Energy Innovation Fund (EIF or the Fund) to support the commercialisation of innovative, emerging renewable energy technologies in Victoria required to meet the net-zero emissions by 2050 target.
The Fund aims to bring intellectual property, innovation, local economic development and environmental benefits to the State, local businesses and communities. These are achieved through supporting activities that progress innovative projects in their commercialisation continuum including feasibility/pre-investment studies, front-end-engineering-design, large scale pilots and demonstrations.
Key dates, funding and how to apply
The Fund will be delivered in multiple rounds. Applications for Round 1 closed on 12 March 2021 and Round 2 pre-applications closed on 8 April 2021.
Round 2 applications are anticipated to open in August 2021.
Funding requests are expected to be in the range of $2 million - 20 million. Any grant funding provided must be the minimum funding required for a project to proceed. Total grant funding requests (including all government funding sources) must not exceed 50% of the Project’s Eligible Expenditure.
Round 1 – Offshore Wind
Offshore wind has experienced significant global growth over the last decade due to technology advances and declining costs, establishing an important role for this sector in the global energy transition and pathway towards net zero emissions.
Victoria benefits from rich offshore wind resources, and there is significant interest in the strategic potential of offshore wind for the Victorian market.
Round 1 of the EIF will be dedicated to offshore wind to complement the State’s activities to understand the sector’s potential contribution to the future energy system.
Round 2 – Technology Neutral
Large-scale energy transformation in Victoria requires a diverse mix of emerging energy technologies, some of which are yet to become commercially viable on their own. To support the continued development in this sector, Round 2 will be open to any renewable energy technology that satisfies the eligibility criteria.
An online briefing to provide potential applicants with an overview of the EIF was held on Thursday 11 February 2021. The slides from the briefing are available under Program Documents and the FAQs document includes responses to questions raised during the briefing.
- Program Guidelines (PDF, 582.5 KB)
- FAQs (Updated on 11 March 2021) (PDF, 171.2 KB)
- Industry Briefing slides (PDF, 653.8 KB)