PLEA Network

13 December 2015, The Guardian, Malcolm Turnbull lifts Abbott ban on government finance for wind power. Malcolm Turnbull has lifted the ban imposed by Tony Abbott on wind investment by the Clean Energy Finance Corporation (CEFC) before it was officially enacted, even though it remains Coalition policy to abolish the green bank. A spokeswoman for the prime minister said the new CEFC investment mandate – issued by the environment minister, Greg Hunt, and the finance minister, Mathias Cormann – reflected “the Turnbull government’s strong support for renewables and innovation”. “The mandate puts the CEFC’s focus on new and emerging renewables technologies, rather than supporting well-established technologies that are financially viable without government support,” the spokeswoman said. In the wake of the new mandate and the Paris agreement, various stakeholders in the renewable sector were optimistic that the CEFC decision could reboot the government’s relationship with the clean energy industry. The new mandate says: “As part of its investment activities in clean energy technologies, the corporation must include a focus on supporting emerging and innovative renewable technologies and energy efficiency, such as large scale solar, storage associated with large and small scale solar, offshore wind technologies, and energy efficient technologies for cities and the built environment.” Read More here