Councils and organics operators make 11th hour funding grab
The new Source Separated Organics (SSO) methodology has seen tremendous uptake in the countdown to the next Emissions Reduction Fund (ERF) auction.
The SSO methodology provides funding to projects that divert organic waste from landfill. Twenty-seven new, expanded and/or aggregated projects under the methodology diverting source separated organics were registered by MRA Consulting Group (MRA), primarily via municipal food and garden organics collections. The total abatement from these projects over their life is estimated at 800,000 tCO2 and worth almost $10M based on the average price per tonne of abatement of $12.25.
If you missed the deadline to register your project, do not despair! There are still opportunities to participate.
With the projects only just registered, the auction registration process is already underway. MRA has summarised the process below:
- Step 1 (Auction Qualification): closed 24 March 2016;
- Step 2 (Auction Registration): closes on 18 April 2016; and
- Step 3 (Bidding): Bids will be made between 9am 27 April 2016 and 5pm 28 April 2016.
The bidding results will be released 5 May 2016, five business days after the auction closes. The Clean Energy Regulator selects projects to contract solely on the basis of the bid price.
If you have missed the recent deadline for Step 1 but wish to remain in the running, you can either:
- Join an aggregated project; or
- Bid separately at future auctions.
There is still time to earn a piece of this unprecedented opportunity to secure a 7-year offtake agreement with fixed volumes and fixed prices!
For further information on project aggregation and the auction participation process, please contact Jordon Wong ([email protected]) or Julien Gastaldi ([email protected]). Alternatively, call MRA on 02 8541 6169.