Big solar investment on hold because of Australian govt’s policy uncertainty
Chinese solar firm says policy instability holding back Australian investment, Guardian, Lenore Taylor in Paris, 5 Dec 15 Hareon Solar executive says firm is considering a billion dollar investment in large scale solar within a year but policy stability, not subsidies, is needed. Chinese firm Hareon Solar is “actively” considering a billion dollar investment in large scale solar projects in Australia, but the stability of government climate policy is its major concern, a senior company executive has told Guardian Australia.
Jie Zhang, Hareon’s vice president of global business development said government subsidies were not necessary for the investment decision, to be taken within a year, but policy stability was required.
“Our only wish for government is a stable policy, don’t flip back and forth, of course we are concerned what has happened in the past in Australia with the renewable energy target,” he said in an interview at the Paris climate summit……
Solar is a 25 year investment. If a government can’t keep its policy stable for five years how can we inves,” he said.
Hareon solar is a major Chinese solar cell manufacturer and global investor in large scale solar projects, founded by Australian citizen Samuel Yang.
It has invested in solar projects delivering 700 megawatts of power inChina as well as big projects in Bulgaria, Romania and the United Kingdom and smaller projects in the US and Japan.
Zhang said investment decisions were driven by government subsidies, but now required strong demand and policy stability…..
The Australian Renewable Energy Agency has announced a large-scale solar competitive round, seeking bids from major solar PV project proponents for grants of up to $30 million from a $100mn program. The Clean Energy Finance Corporation has announced a complementary $250 million large-scale solar financing program.
Renewable energy investment in Australia froze in the early years of the Abbott government when the renewable energy target was under review. In the end in was wound back, but not abolished. http://www.theguardian.com/environment/2015/dec/05/chinese-solar-firm-says-policy-instability-holding-back-australian-investment
No comments yet.
1 This month
of the week – Disrupting War & Militarism in Oceania. Active solidarity. Radical practice.
Antinuclear 
Leave a comment