Applications for round 2 of the Government Investing in Decarbonising Industry Fund (GIDI) open mid-April – time to ensure your application is in good shape.
The first round of the GIDI attracted a high number of excellent applicants, with successful projects to be announced by Minister of Energy and Resources Dr Megan Woods in April.
The GIDI Fund, is part of the government's COVID Response and Recovery Fund (CRRF), and saw high demand. EECA CEO Andrew Caseley said, "We were oversubscribed and had to decline a number of high-quality projects in this round. The successful projects have set a high standard for round two."
What you need to know for round two
- Applications for round two will open in mid-April
- Successful applicants will demonstrate a comprehensive decarbonisation pathway and plan to deliver, such as completing an EECA Energy Transition Accelerator (ETA)(external link)
- The RFP will specify a cap of 50% co-funding for projects, with exceptions made only where projects deliver significant emissions reductions and/or co-benefits.
- Successful projects from round one averaged just under 50% of GIDI co-funding, with the remainder met by applicants.
- Round two projects will need to be completed by 31 October 2023
- The first round of projects sets a strong benchmark in terms of value for money: the average emissions abatement cost to EECA has come in at under $25 per tonne.
How to apply
Details of the fund, and all required documents, will be updated online when the round opens at:
About the Government Investment in Decarbonising Industry (GIDI) Fund - Gen Less website(external link)
About the Government Investment in Decarbonisation (GIDI Fund)
The GIDI Fund is a partnership between Government and business to accelerate the decarbonisation of industrial process heat and contribute to the COVID-19 recovery by stimulating the domestic economy and supporting employment.
Process heat makes up around a third of New Zealand’s overall energy use, and 60% of process heat is fossil-fuelled, mainly by gas and coal.
EECA administers the GIDI Fund on behalf of the Government through a contestable process that will see $69M of capital grants co-investment made available across three rounds to support good projects.
The Fund is available to New Zealand-based private sector businesses who have committed to decarbonising their business and industrial processes, where Government co-investment will help remove barriers to accelerating their decarbonisation goals.