Budget October 2022–23: Energy and emissions reduction

The Government will provide AUD 275.4 million over 6 years from 2022–23 as part of its election commitment to double investments in energy to AUD 500 million and to establish the Driving the Nation Fund (the Fund) to invest in cheaper and cleaner transport. 

Funding includes: 

• AUD 146.1 million over 5 years from 2023–24 for the Australian Renewable Energy Agency to co-invest in projects to reduce emissions from Australia’s road transport sector.
• AUD 89.5 million over 6 years from 2022–23 for the Hydrogen Highways initiative to fund the creation of hydrogen refuelling stations on Australia’s busiest freight routes, in partnership with states and territories, including $5.5 million to LINE Hydrogen Pty Ltd for its George Town green hydrogen heavy transport project.
• AUD 39.8 million over 5 years from 2022–23 to establish a National Electric Vehicle Charging Network to deliver 117 fast charging stations on highways across Australia, in partnership with the NRMA. 

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