Antinuclear

AUDIO: Clean energy investment frustrated due to fear of Abbott win in Australian election

Clean energy sector faces uncertain future if Coalition wins federal election   http://www.abc.net.au/news/2013-05-29/clean-energy-investment-at-stake-if-coalition-wins-election/4720894   ABC Radio The World Today 29 May 13  By environment reporter Sarah Clarke  Billions of dollars worth of investments in the clean energy sector are at stake if the Coalition wins the federal election in September.

The Coalition is vowing to scrap the carbon tax, review the renewable energy target and axe the $10 billion Clean Energy Finance Corporation if it takes Government.

As the largest owner of installed wind energy capacity in Australia, the company Infigen says the current level of uncertainty is playing havoc with some big investments.”It’s a problem that’s been in our industry for a number of years because it’s the first time legislation’s been reviewed or tinkered with,” Infigen’s executive director Miles George said.

“Now we have a prospect of a change of government, that uncertainty will remain until there is a change of government and a further review of the renewable energy target. “So yes, at the moment investment is pretty much stalled in the industry.”

Mr George says Infigen is yet to decide if it will go ahead with up to $2 billion worth of potential investments.

“We have a number of projects in our development pipeline but we won’t be progressing any of those until there’s more certainty about the legislation,” he said. “It’s very frustrating. Frustrating for our investors, frustrating for our capital providers for the sector, but it’s also frustrating given that the renewable energy target legislation has actually been very effective.”…….

May 30, 2013 - Posted by Christina Macpherson | election 2013