Today, the Minister of Energy and Resources Dr Megan Woods announced the 23 projects that will receive government co-investment from Round Two of the $69m Government Investment in Decarbonising Industry (GIDI) Fund. The recipients will receive $28.7 million and will match this with $54.5m of their own funding.
The 23 projects will deliver annual savings of 142,591 tonnes of greenhouse gas emissions, amounting to 2.8 million tonnes over their lifetime. This is the equivalent of taking around 46,000 cars off the road.
"All together, the first two rounds of the GIDI Fund have supported projects that will deliver lifetime emissions cuts of 6.6 million tonnes," said Megan Woods. "This equates to 14-18 percent of the gross long-lived emission reductions required from the Climate Commission’s first carbon budget for the period 2022-2025."
"This is an exceptional outcome for the Fund, and for Kiwi businesses and their customers, who will reap the benefits of getting fossil fuels out of the production process."
Read the full press release: Government invests in reducing industry emissions | Beehive.govt.nz(external link)