Clean Energy Finance Corporation may be able to take legal action against Abbott government
“If there’s evidence that the Government’s just trying to frustrate the purpose of the Act, then the corporation would have the opportunity … to seek a legal remedy,”
Clean Energy Finance Corporation could have legal grounds to fight wind and solar ban, lawyer says By political reporters Anna Henderson and Eric Tlozek The Clean Energy Finance Corporation (CEFC) could have an avenue to fight the Federal Government’s prohibition on investing in wind power and rooftop solar, according to a senior lawyer.
The Abbott Government has twice tried to abolish the taxpayer-funded $10 billion CEFC, known as the green bank, and has now issued a draft directive to stop the corporation investing in wind farms and small-scale solar.
The draft changes direct the authority to spend the money on large-scale solar projects and new and emerging technologies. Stephen Keim QC has previously provided advice to environmental groups about the Government’s ability to direct the CEFC. He said the Government had the power to put in place an investment mandate but it had to “tread a fairly thin line”.
“They can’t do anything or give a direction that’s inconsistent with the Act, including the purpose of the Act,” he told Radio National. “The purpose of the Act is spelled out. It is to get as much investment in clean energy technologies as you can, and that includes renewable technologies.”
What is the CEFC?
- The CEFC was set up by the Gillard government in 2012.
- It mobilises capital investment in renewable energy, low-emission technology and energy efficiency in Australia.
- The corporation operates like a traditional financer, working with co-financers and project proponents to seek ways to secure financing solutions for the clean energy sector.
- It focuses on projects and technologies at the later stages of development which have a positive expected rate of return.
- As at June 30 last year, the CEFC had contracted investments of over $900 million in projects with a total value of over $3 billion.
Mr Keim said the CEFC would have the opportunity to make submissions about the draft directive and those documents should be tabled in Parliament.
“If there’s evidence that the Government’s just trying to frustrate the purpose of the Act, then the corporation would have the opportunity … to seek a legal remedy,” he said…….http://www.abc.net.au/news/2015-07-14/cefc-may-have-legal-grounds-to-fight-wind-solar-ban-lawyer-says/6618246
No comments yet.
Antinuclear 
Leave a Reply