The government of Australia has enhanced the renewable energy sector by allocating $106.3 million in the Renewable Energy Venture Capital Fund, NewNet reports. The fund will seek to support early-stage renewable energy companies.

The nation has also allocated $63.7 million to the new Emerging Renewable program. The program will be open to geothermal, solar, wind and wave energy technology creators and developers, including hybrid applications.

Click here for the story from NewNet.