GIDI Fund

It's a busy time of the year for most people which is why we've written a brief overview of the Government's GIDI fund details. Read the FAQs and summary below.

Hurry, the first round of funding closes on Monday, 14th December 2020

The Government have announced they have committed to over $70M of funding to transition into a lower emission future.

 

What is the GIDI Fund?

The Fund is a Government Investment in Decarbonising Industry (GIDI) Fund which is part of the Governments COVID response and recovery.

 

 

What is the purpose of the GIDI Fund?

•             Help accelerate decarbonisation to transition to a clean, low emission energy

•             To support employment and economic activity in New Zealand

•             Provide opportunities to replace coal with biomass energy

 

 

What are the principals of the fund and what will get prioritised?

•             Projects with maximum return on investment for carbon reduction. E.g. Fund $ for 
carbon reduction

•             Project readiness – Projects need to be implemented by 2023.

•             Co-funding leverage – Maximising the number of projects supported

•             Innovation encouragement – Projects that involve innovative technologies which can be replicated or scaled across industries

•             Additionality – Projects that wouldn’t otherwise go ahead and are reliant on additional funding

 

 

What are the criteria for the fund?

•             Must be NZ-based private sector businesses

•             Implemented by 2023

 

What is supported?

•             Fuel switching – E.g. from coal to wood

•             Technological innovation

•             Energy efficiency

 

 

What is not supported?

•             R&D

•             Residential & commercial buildings

•             Transport

•             Waste minimisation

•             Electricity generation

•             Agricultural emissions

•             Embodied carbon

•             Carbon capture and storage

•             Conversions to natural gas

 

 

What is the timeframe?

 

 

Round 1

 

NOW until 14th December

 

Minimum of $17M to be granted

 

 

 

Round 2

 

April 2021

 

Funding available - TBC

 

 

 

Round 3

 

September 2021

 

Funding available - TBC

 

 

 

Round 4+

 

TBC

 

Funding available - TBC

 

 

What decides which projects get funding?

•             EECA Chief Executive

•             EECA Board

•             Ministry of Energy and Resources for projects over $3.5M

 

 

More Information:

Process heat conversions: jonathanm@azwood.co.nz

 

GIDI: https://genless.govt.nz/running-a-business/co-funding-and-support/business-co-funding-and-support-programmes/government-investment-in-decarbonising-industry-gidi-fund/about-the-fund/