The good news keeps coming for the clean energy industry, with the Federal Government reversing its ban on wind farm investment by the Clean Energy Finance Corporation (CEFC).
Clean Energy Council (CEC) Chief Executive Kane Thornton said the Federal Government’s move to include wind power in the new investment mandate of the CEFC sent a strong signal to international investors that Australia wants more renewable energy.
“It is great to see that common sense has prevailed. Prime Minister Malcolm Turnbull is clearly committed to restoring confidence to renewable energy after several tough years,” Mr Thornton said.
“The CEFC will play an important role in unlocking finance solutions for the renewable energy industry and delivering on the pledges made at the UN climate negotiations in Paris. In the short term, it will help to return stability to a sector which has endured a tough couple of years,” he added.
However, Federal Environment Minister Greg Hunt told ABC that the prohibition on wind farm investment never existed and that he had initially called for more focus on emerging technologies instead.
“The very agreement that we struck, on which I was deeply engaged with the Senate, now forms the basis of the arrangements and the mandate to the CEFC, so for me, there’s a perfect consistency.”
The CEFC’s announcement last week of $67 million in financing for the Ararat Wind Farm was a signal that the tide had turned for wind farm investment in Australia, after a rocky year for the industry, which included sustained attacks from former Prime Minister Tony Abbott.
