Clean Energy Finance Corporation: Tony Abbott defends decision to axe wind, solar from renewables spending
Prime Minister Tony Abbott says it is “no secret” he wants the $10 billion Clean Energy Finance Corporation (CEFC) abolished, but while it is still in place it should be as useful as possible.
The Opposition and the Greens have accused the Government of trying to get rid of the taxpayer-funded authority by stealth, by issuing a new directive to stop the CEFC from investing in wind farms and household rooftop solar projects.
“The Parliament set up this corporation with a very expert board and very expert staff to make these decisions free of political interference,” Opposition environment spokesman Mark Butler said.
“What we see now is Tony Abbott trying to nobble this corporation for his own ideological purposes.”
But Mr Abbott says it is not useful for the CEFC to invest in established technologies that can easily attract private funding.
“The best thing that the Clean Energy Finance Corporation can do is invest in new and emerging technologies, the things that might not otherwise get finance,” he said.
“That’s why we’ve got this draft direction there.”
The Government has twice tried and failed to win parliamentary support to shut down the statutory authority, and Mr Abbott has previously described the wind turbines as “visually awful”.
The directive on wind and solar stems from the deal the Government struck with crossbench senators earlier this year to reduce the Renewable Energy Target.
Part of that agreement said the Government would write to the CEFC to ensure “significantly” increased uptake of large-scale solar, emerging renewable technologies and energy efficiency.
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