Antinuclear

Hear this: Clean Energy Finance Corporation will issue contracts to low carbon companies, despite Abbott’s threat

Clean Energy Finance Corporation told to shelve contracts    http://www.abc.net.au/news/2013-05-29/clean-energy-investment-at-stake-if-coalition-wins-election/4720894     AUDIO: Sarah Clarke reports on the clean energy future(The World Today) 29 May 13 The Coalition has already promised to dump the $10 billion Clean Energy Finance Corporation.

It was set up to lend money to firms delivering clean energy and low emissions, to give them a kick-start in the market.The Coalition is now warning it to stop drawing up contracts for new projects until after the election…….

Reserve Bank board member Jillian Broadbent, the chair of the Clean Energy Finance Corporation, says she is disappointed with the Coalition’s plans.

“There’s a lot of confusion about what we are and what the working model is and what kind of costs we’re going to be to the taxpayer, because on our numbers we’re going to be financially self-sufficient in probably within the first two years of our operation,” she said.”Then you start generating dividends which go to the Australian Renewable Energy Agency which can save the Government putting funds into that agency directly.”

The fund is currently considering applicants from at least 50 low carbon and low emission companies with contracts worth up to $2 billion.It plans to start issuing those contracts on July 1, despite calls for them to be shelved until after September.

Fund has ‘obligation to fulfil responsibilities’

Ms Broadbent says shelving the contracts is not possible. “We have an obligation to fulfil those responsibilities and that’s what we’re doing,” she said……..

The parliamentary secretary for Climate Change Yvette D’Ath says the Clean Energy Finance Corporation has a guaranteed future if Labor is re-elected. “These businesses have to meet very strict investment guidelines and criteria to get that finance through the Clean Energy Finance Corporation,” she said.

“So we’re very confident that there’ll be that rigour, there’ll be that transparency and that this will attract a lot of investment in Australia to invest in renewable energy.”

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