Australia’s carbon tax stimulates foreign investment in renewable energy

We think its a tremendous advantage. We’ve been long supporters of the carbon tax and we think the package the government has come up with will be pretty effective. It seems to be the most economically efficient way to reach any given target.

Foreign company interest in Australian renewable energy, Radio Australia September 7, 2011 , Some of the world’s biggest companies are getting involved in Australia’s renewable energy sector. Large investments are being made in solar technology at a time when the debate around climate change and carbon schemes is highly politicised.
The government’s proposed carbon tax has divided industry with the influential former head of BHP, Don Argus, the latest to condemn the tax as “politically expedient”.

Yet others have embraced the idea and partially set their business models around it………

WATERS: We think its a tremendous advantage. We’ve been long supporters of the carbon tax and we think the package the government has come up with will be pretty effective. It seems to be the most economically efficient way to reach any given target.

SNOWDON: Ben Waters is a Director of GE or General Electric’s for Australia and New Zealand. ….

The American giant has invested $US6 billion in renewable projects around the world.

Its latest project in Australia is a 50 per cent investment in the country’s largest grid connected solar farm to power Western Australia’s second water desalination plant near Geraldton.

At ten megawatts its ten times larger than any other solar plant in Australia, though small by world standards.

WATERS: We think Australia’s got an enviable solar resource and there should be many more of these utility scale solar projects in Australia. So we were very pleased to make that initial investment and we hope there will be many more.

SNOWDON: What is the size of the investment by GE?

WATERS: The size of the project is $50 million and we hold half of it with Verve Energy of Western Australia holding the other half……

WATERS: The world is moving to a lower carbon economy and Australia needs to do that instead of falling behind and has been for many years. I don’t think there’s any danger of Australia leading in that regard. But Australia now quickly needs to catch up and we think the action the government has in mind is a suitable way.

http://www.radioaustralia.net.au/asiapac/stories/201109/s3312568.htm

September 8, 2011 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy

No comments yet.

Antinuclear

Australian news, and some related international items