Uncertainty created by Australian govt’s new Clean Energy Fund
Clean Energy Fund creates uncertainty for existing renewable proposals, SA Energy Minister says ABC News 24 Mar 16 Changes to the Federal Government’s energy agencies have created uncertainty in South Australia’s renewable energy industry, State Energy Minister Tom Koutsantonis says.
Key points:
- Changes ‘turn grants into loans’
- Business models to be affected, SA Energy Minister warns
- Union says clean energy fund is ‘too little, too late’
Prime Minister Malcolm Turnbull yesterday announced he would retain the Clean Energy Finance Corporation and the Australian Renewable Energy Agency, which former prime minister Tony Abbott tried to dismantle.
The agencies will manage a $1 billion Clean Energy Innovation Fund (CEIF) using money previously allocated to them.
But Mr Koutsantonis said the changes meant funds administrated as grants would now be considered loans.
He said this would affect business models for proposals such as solar, wind, tidal or hot rocks energy generation.
“That has to be changed now because the money has to be paid back, so they [the Federal Government] are creating a lot of uncertainty,” Mr Koutsantonis said.
Clean energy fund ‘too little, too late’
The Australian Services Union said the clean energy fund was “too little, too late” to help SA’s Alinta Energy workforce………http://www.abc.net.au/news/2016-03-24/clean-energy-fund-changes-creates-uncertainty-sa-energy-minister/7272472?section=environment
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