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12 May, 2009

$14.9 Million for Clean Energy Trade and Investment

The Government will provide $14.9 million over three years to attract productive investment into Australia's clean energy sector and assist Australian clean energy companies to access international markets through export and investment.

The Clean Energy Trade and Investment Strategy will connect Australia's clean energy and technology sector to emerging lucrative commercial opportunities as nations implement policies to address the challenges of climate change.

Minister for Trade Simon Crean said the initiative would open up new clean energy opportunities for Australian businesses on the international stage.

"Australia has the potential to become a world leader in clean energy and related technologies.

"This strategy will support new jobs for Australians in areas like renewable energy, green buildings, energy efficiency and sustainable water technologies," Mr Crean said.

The Clean Energy Trade and Investment Strategy fully integrates trade and outward investment with inward investment attraction.

It also delivers on the Government's election commitment to fund a clean energy export strategy.

Global investment in clean energy reached US$155 billion in 2008.

"With the global recession creating a more competitive market for investment attraction, the strategy will lift Australia's profile as a destination for investment in clean energy," Mr Crean said.

Austrade will appoint industry specialists in Australia and in major offshore markets to promote Australia's clean energy trade and investment potential and assist clean energy companies to globalise their operations.

Key markets in North America, Western Europe, Northeast Asia and the Middle East have significant investment funds available.

For exports and outward investment opportunities, the strategy will focus on China, India, ASEAN, Latin America and the Middle East.

The Clean Energy Trade and Investment Strategy will include renewable energy (solar, wind, geothermal, marine, bioenergy and biofuels), carbon capture and storage, energy efficiency, water technologies, sustainable urban design, and waste management.

Media Inquiries: Mr Crean's office 02 6277 7420 - Departmental Media Liaison 02 6261 1555