If passed by the Federal Senate, the Australian Renewable Energy Agency (ARENA) will be established on 1 July 2012, and will oversee approximately $3.2 billion in Federal Government funding for clean energy technology development. Of this, $1.5 billion is committed to existing projects, and $1.7 billion is uncommitted.

“ARENA is an important part of the Government’s Clean Energy Future package and will consolidate $3.2 billion in support for renewable energy,” said Federal Resources and Energy Minister Martin Ferguson.

The creation of ARENA will bring together a number of bodies, such as the Australian Centre for Renewable Energy and the Australian Solar Institute, into a single agency.