Antinuclear

Australia positioned to lead in renewable energy, says global engineering investor ABB

ABB undeterred by carbon tax controversy, BY:SARAH-JANE TASKER , The Australian , March 02, 2012   GLOBAL engineering company ABB Group will continue investing in its Australian arm despite the political upheaval. ….. ABB, one of the largest engineering companies in the world with a market value of about $38 billion, is targeting the renewable energy sector as a significant growth area. It believes Australia is in pole position because of the carbon tax.

ABB Australia country manager Axel Kuhr said the company had not given up on the renewables sector in Australia, despite the opposition’s promise to scrap the carbon tax.

Its confidence in the sector was reflected in its decision in November to buy Darwin-based Powercorp, a renewable power automation company.

“All the discussions around the carbon tax and the delay around that wasn’t helpful but we believe global warming is happening and that countries are really looking at doing something about it,” Mr Kuhr said. “This is a sector where we see further growth in the future years.”

ABB describes itself as a global leader in power and automation technology that enables utilities and industrial users to improve their performance while reducing their environmental impact.

“Our equipment is geared to help our customers save energy, so for us (the carbon tax) should generate new business as it helps companies look to make carbon tax savings,” Mr Kuhr said.

He said wind and solar power would take off in the long term, and prices would fall…… http://www.theaustralian.com.au/business/mining-energy/abb-undeterred-by-carbon-tax-controversy/story-e6frg9df-1226286684365

March 2, 2012 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy