Frontier Energy (ASX:FHE) said the Australian Government chose its Waroona project as one of four renewable energy projects in Western Australia to receive support under the Capacity Investment Scheme, according to a Monday filing with the Australian bourse.
The scheme aims to boost investment in renewable energy and storage projects by offering a 15-year long-term revenue safety net, the filing said.
Shares rose nearly 4% in midday trade Tuesday.
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