Australia not interested in Abu Dhabi’s solar city?
Deutsche Bank ranks Australia, which had a low-key presence at the conference, as the best place for certainty on clean energy investments
A green city arises from the desert of Abu Dhabi Matt Chambers Australian January 25, 2010 IN the most unlikely of places, what could be the world’s most expensive clean energy project is just eight months away from its first residents moving in…………
The city will be powered by solar energy, with almost all the roofs in the 6sq km city covered in solar panels, and other renewable sources. One of the biggest innovations will be driverless cars, which will provide free solar-powered public transport around the city from September……….
A binding Copenhagen target was important to those selling green technology because it would have come closer to achieving a global carbon price, providing more certainty to investors.
While clean-tech investment is growing, non-hydro renewable power is still heavily dependent on government assistance to make it attractive to investors………
Deutsche Bank ranks Australia, which had a low-key presence at the conference, as the best place for certainty on clean energy investments because of its legislated target to have 20 per cent of its electricity from renewable energy by 2020 and its stable markets.
“Even if Copenhagen has stalled the international process, at the national, local and city level, this thing is still moving ahead,” Mr Fulton said.
A green city arises from the desert of Abu Dhabi | The Australian
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