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Australia’s ‘Future Made in Australia’ plan targets renewables boom

In a major policy announcement, Australian Prime Minister Anthony Albanese has revealed plans for a new ‘Future Made in Australia Act’ to boost investment, create jobs, and seize the opportunities of the country’s clean energy transition.

Speaking at the Queensland Media Club, Albanese outlined the government’s vision to make Australia a ‘renewable energy superpower’ by leveraging the nation’s abundant natural resources and skilled workforce.

“We need to be more assertive in capitalising on our comparative advantages and building sovereign capability in areas of national interest,” Albanese said.

“This isn’t something that happens overnight, it’s the work of a generation. But the preparation for what comes next, has to start now.”

The forthcoming legislation will bring together a suite of new and existing initiatives aimed at supporting emerging industries, securing critical mineral supplies, driving competition reform, and maximising community benefits from renewable energy projects.

The announcement was welcomed by industry groups like the Climate Council and the Clean Energy Council.

“This is exactly the sort of leadership Australia needs to tackle climate pollution, generate clean jobs, and ensure a brighter future for our kids,” Climate Council CEO Amanda McKenzie said.

Clean Energy Council Chief Executive Kane Thornton said the Prime Minister’s speech “marks another decisive moment for Australia’s ambition to secure a place as a leading nation in the global clean energy industry”.

“It is positive news that the Federal Government has plans to back its vision with a substantial policy agenda, putting renewable energy at the centre of our economic future,” Thornton said.

“The highlighted areas of hydrogen, green metals and advanced clean energy manufacturing and assembly are genuine opportunities for Australia to expand, grow and diversify our economy centred around clean energy and create further demand for a large and skilled clean energy workforce.”

Key elements of the ‘Future Made in Australia Act’ include boosting investment through financing facilities and investor incentives, leveraging government procurement to support local manufacturing and small businesses, enhancing sovereignty over resources and critical minerals, delivering better community outcomes from renewable energy developments, and expanding access to vocational and higher education in the regions.

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