The Australian Renewable Energy Agency (ARENA) has released its second annual report showing its successes even though the Abbott Government is planning on shutting down the agency altogether.

In their second year of operation, ARENA has managed $1.2 billion in support of more than 200 projects, fellowships and scholarships with a total project value of around $3.5 billion. For every dollar ARENA spent in support of projects they gained an extra $1.90 in additional support. They have created countless jobs, built world-first renewable projects, assessed 387 applications, approved 48 projects and launched the Solar R&D Program.

“This past year has confirmed ARENA’s unique role in matching Australia’s future energy needs with emerging renewable energy technologies, and supporting those with the best prospects to the brink of commercialisation,” said ARENA CEO Ivor Frischknecht.

The main aim of ARENA has been to diversify and improve the affordability of Australia’s energy supply. Their support goes right through every stage of a project, ‘from incubation in the laboratory, through progression to pilot and demonstration scale plant, and finally to commercial deployment in the field.’

“Through our knowledge sharing activities ARENA has raised awareness and understanding of renewables as well as experience in developing projects that use these technologies, which in turn develops local capabilities and creates local jobs,” said Greg Bourne, ARENA’s Chair. “In short, we are creating jobs, skills and knowledge today while building the energy infrastructure of tomorrow.”

Already in the pipeline ARENA has 144 projects totalling almost $7 billion. However, the Abbott Government has been trying to close down the agency since May of this year. As a result of the lack of the lack of support, the bill has yet to be presented to the Senate. Without the support of ARENA, many of its projects would not have been completed or maybe even started at all.

ARENA has also said in a statement that until such time that the Act to repeal the agency goes through the Senate they are still very much open for business. They are continually seeking more applications for funding on renewable energy related projects.

Since it opened in July 2012, ARENA has provided around $2.5 billion in funding for all different kinds of renewable energy projects in different stages of development.

Click here to download ARENA’s Annual Report 2013-2014.