It's been widely reported over the last couple of days that the Abbott Government has attempted to cease investment in wind and small scale (roof-top) solar projects that are underpinned by the Clean Energy Finance Corporation (CEFC). Less widely reported however is the fact the Investment Mandate issued by the Government is in 'draft' only at this stage, and that the CEFC has a right of reply. Importantly the Government's Mandate, under the Clean Energy Finance Corporation Act 2012, does not allow them to propose requirements that are against the object of the Act, which reads: "The object of this Act is to establish the Clean Energy Finance Corporation to facilitate increased flows of finance into the clean energy sector".
So how can blocking investment into two of the biggest sources of clean energy 'facilitate increased flows of finance into the clean energy sector'??? Surely this is against the intent/object of the Act? The other to be asked is, 'why do you try and reduce investment in clean energy projects that are delivering a positive return on investment'??? I'm not sure there's a rational answer for that one...
It appears the CEFC are not going to take this one lying down, and have issued a statement, click here to view, proclaiming they will be responding to the draft Mandate in due course, as well as clearly outlining their stated objective under the Act. Stay tuned, this one could be going to the Senate yet!
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