BRIEF – 30 March 2010 – Parliament has established the Australian Centre for Renewable Energy in a move aimed at centralising $560 million of Government funding for renewable energy.

ACRE is designed to be a “one stop shop” for Australian renewable energy businesses, aiming to consolidate the Government’s $235 million Renewable Energy Demonstration Program and the $50 million Geothermal Drilling Program, as well as more than $265 million for other initiatives.

A CEO is expected to be appointed before ACRE undertakes their first priority to develop a funding strategy to direct the centre’s unallocated funds.