Australia Lifts Abbott Ban on Wind Farm Investment, SMH ReportsBy
Australian Prime Minister Malcolm Turnbull has lifted a ban on government investment in wind power that was introduced by his predecessor Tony Abbott, the Sydney Morning Herald reported.
Environment Minister Greg Hunt has issued the state-backed Clean Energy Finance Corporation with orders canceling Abbott’s June directive which prohibited the A$10 billion ($7.2 billion) renewable energy bank from investing in new wind power projects, the newspaper said, citing a Dec. 3 investment mandate it obtained.
Under the mandate the corporation will be able to invest in any wind project that involves “emerging and innovative” technology, while encouraging a focus on offshore projects, the newspaper said.
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