Australian clean tech opportunities charge US interests

14 Oct 2010

The Australian Trade Commission - Austrade - is running a series of events to promote Australian clean technology innovation to the US and to foster greater commercialisation of clean energy solutions.

A delegation of investors, energy company officials and leading researchers from a number of US state and federal energy and clean technology sectors are in Australia this month as part of an Austrade-led trade mission.

Austrade’s Washington-based Senior Trade and Investment Commissioner, Alison McGuigan-Lewis, and San Francisco-based Senior Investment Director, Kelly Sims, are accompanying senior representatives from major US companies and educational institutions.

These include Lockheed Martin, Massachusetts Institute of Technology, California Clean Energy Fund (CalCEF), Clean Energy Angel Fund, Hudson Clean Energy Partners, Blackstone Cleantech Venture Partners, Davidson Energy Group and Policy Capital Advisors.

The delegation’s visit commenced with Australia’s biggest international clean energy conference and exhibition - the All-Energy Australia 2010 in Melbourne from 6-7 October.

This will be followed by a series of roundtables in Brisbane, Sydney and Melbourne, along with site visits to projects already underway in each State.  A Sydney seminar will also be held focusing on the emerging opportunities and the role of finance and financial players in expanding the clean energy market.

The Australian visit follows a series of events in September which promoted the Australian renewable energy sector in Washington DC, New York City and San Francisco in partnership with KPMG Australia.

Australia’s Renewable Energy Target Scheme requires that 20 per cent of energy come from renewable sources by 2020.  Currently 75 per cent of total renewable energy capacity comes from hydro – but wind power and other technologies are growing significantly, and are due to be developed over the next 10 years.

Ms McGuigan-Lewis said with an estimated $A20 to A$30 billion of direct investment expected to be needed over the next 10 years to achieve this renewable target, the sector offered vast opportunities.

This extends to both the local renewables market and overseas companies looking to pilot projects, particularly from the major investment centres of the US and the wider Americas region.

“Australia is an attractive destination for companies looking to invest in the burgeoning renewable and clean-tech industries,” Ms McGuigan-Lewis said.

“There are numerous factors working in our favour including the high quality and diversity of our renewable resources - particularly in solar, geothermal and biofuels - our growing R&D capabilities, and our proximity to Asia.”

The US events in September generated significant interest. They attracted over 130 participants who had heard about US companies which had invested in Australian renewable projects, such as Aurora Algae’s commercial-scale facility to be located in Karratha, Western Australia.

For more information on Austrade‘s ongoing US-Australia clean-tech activities contact Nigel Warren, Senior Trade Commissioner, San Francisco at nigel.warren@austrade.gov.au